# Canadian dollar hits 3-week low as US readies infrastructure plan - Markets - Business Recorder

> The Canadian dollar fell to a near three-week low against the US dollar, trading around 1.2633 per greenback. The move came as oil lost ground when the Suez Canal reopened and as investors anticipated a $3-4 trillion US infrastructure spending plan.

- Date: 2021-03-31 · published 2021-03-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/48364-canadian-dollar-hits-3-week-low-as-us-readies-infrastructure-plan-markets
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer US dollar tends to pressure commodity prices and makes Canadian exports, including canola, relatively cheaper. Oil weakness from Suez reopening also reduces the energy-linked support for Canadian dollar-denominated commodities.

## Read by commodity

- DXY: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-04-29 | [Canadian dollar hits 7-week low - Business & Finance - Business Recorder](https://feedsoft.ai/events/42107-canadian-dollar-hits-7-week-low-business-and-finance-business-recorder.md) | -0.1% | -1.1% |
| DXY | 2022-06-13 | [China’s yuan slips to 2-week low as dollar jumps on inflation data - Markets - Business Recorder](https://feedsoft.ai/events/41171-china-s-yuan-slips-to-2-week-low-as-dollar-jumps-on-inflation-data-markets.md) | +1.0% | +2.9% |
| DXY | 2017-11-29 | [Canadian dollar hits near 4-week low versus firmer US$ - The Business Times](https://feedsoft.ai/events/68198-canadian-dollar-hits-near-4-week-low-versus-firmer-us-the-business-times.md) | +0.2% | +0.5% |
| DXY | 2023-09-26 | [Thai baht leads Asian currencies lower, pressured by dollar - Markets - Business Recorder](https://feedsoft.ai/events/34379-thai-baht-leads-asian-currencies-lower-pressured-by-dollar-markets-business.md) | +0.8% | +1.3% |
| DXY | 2021-01-11 | [China's yuan eases to 1-week low to reflect dollar rebound - Markets - Business Recorder](https://feedsoft.ai/events/49365-china-s-yuan-eases-to-1-week-low-to-reflect-dollar-rebound-markets-business.md) | +0.2% | +0.4% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40079659

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