# Canadian dollar in a ‘sweet spot,’ economists say, may have more room to rise - The Globe and Mail

> The Canadian dollar traded at 81.34 US cents on April 29, its highest since February 2018, after seven straight days of gains. Economists describe the level as a sweet spot that helps consumers without seriously hurting businesses.

- Date: 2021-04-30 · published 2021-04-30T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/47851-canadian-dollar-in-a-sweet-spot-economists-say-may-have-more-room-to-rise-the
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A strong loonie lowers the Canadian cost of US-priced imports such as feed ingredients and machinery, but it can reduce the competitiveness of Canadian exports. Analysts expect strength in commodities such as lumber to keep supporting the currency.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/business/article-canadian-dollar-in-a-sweet-spot-economists-say-may-have-more-room-to/

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