# Canadian dollar posts three-year high as Fed stays a step behind BoC

> The Canadian dollar rose to a three-year high against the US dollar on April 28, 2021, as investors cheered domestic retail sales data. The move followed a hawkish Bank of Canada outlook that signalled earlier rate hikes than the Federal Reserve was signalling.

- Date: 2021-04-28 · published 2021-04-28T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/47848-canadian-dollar-posts-three-year-high-as-fed-stays-a-step-behind-boc
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A firmer loonie makes Canadian-priced feed inputs and imported ingredients cheaper for Canadian buyers, while weakening Canadian export competitiveness. The effect on grain and oilseed prices is indirect.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- ca.finance.yahoo.com: https://ca.finance.yahoo.com/news/c-holds-near-6-week-132454902.html

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.