# C$ hits 6-week low as COVID-19 sparks 'tsunami of risk aversion' | Financial Post

> The Canadian dollar fell to a six-week low of about 1.3376 per U.S. dollar on September 23 as investors sold commodity-linked currencies over rising coronavirus cases. The safe-haven U.S. dollar strengthened to an eight-week high, and Ottawa announced more economic support.

- Date: 2020-09-23 · published 2020-09-23T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/51347-c-hits-6-week-low-as-covid-19-sparks-tsunami-of-risk-aversion-financial-post
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Risk-off flows that weaken commodity currencies can lower the cost of Canadian exports, while a firmer U.S. dollar tends to pressure dollar-denominated grain and oilseed prices. The effect on feed markets is indirect and short-lived unless the risk aversion persists.

## Read by commodity

- DXY: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-10-15 | [Aussie hits two-week low; risk-off mood supports US dollar \| Financial Post](https://feedsoft.ai/events/50900-aussie-hits-two-week-low-risk-off-mood-supports-us-dollar-financial-post.md) | -0.7% | -1.2% |
| DXY | 2023-02-15 | [Latam FX slides as dollar firms, Colombian peso hits near six-week low - Financial Post](https://feedsoft.ai/events/37628-latam-fx-slides-as-dollar-firms-colombian-peso-hits-near-six-week-low-financial.md) | +0.8% | +1.8% |
| DXY | 2020-09-23 | [Dollar rallies as Fed, COVID-19 and recovery worries swirl \| Financial Post](https://feedsoft.ai/events/7695-dollar-rallies-as-fed-covid-19-and-recovery-worries-swirl-financial-post.md) | +0.8% | -1.4% |
| DXY | 2022-01-28 | [Dollar set for sparkling week as hike expectations surge \| Financial Post](https://feedsoft.ai/events/12226-dollar-set-for-sparkling-week-as-hike-expectations-surge-financial-post.md) | -0.9% | -0.6% |
| DXY | 2023-05-26 | [C$ posts weekly decline as investors eye higher U.S. rates \| Financial Post](https://feedsoft.ai/events/36184-c-posts-weekly-decline-as-investors-eye-higher-u-s-rates-financial-post.md) | -0.7% | -1.5% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/c-hits-6-week-low-as-covid-19-sparks-tsunami-of-risk-aversion

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