# USD/CAD Forecast Aug. 31- Sep. 4 - Canadian dollar rally continues - Forex Crunch

> The Canadian dollar had another winning week as USD/CAD fell below 1.31 for the first time since January. Fed Chair Powell's Jackson Hole speech allowed inflation to overshoot the 2% target, causing broad US dollar losses, and Canada's Q2 GDP rose 6.5%.

- Date: 2020-08-30 · published 2020-08-30T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/51859-usd-cad-forecast-aug-31-sep-4-canadian-dollar-rally-continues-forex-crunch
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Broad US dollar weakness from the Fed's looser inflation stance tends to support dollar-denominated grain and oilseed prices. A firmer loonie makes Canadian feed ingredients costlier for US-dollar buyers.

## Read by commodity

- DXY: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-09-29 | [South African Rand Forecast: USD/ZAR Continues Lower Amid Gold Rally and Soft Dollar - Forex News by FX Leaders](https://feedsoft.ai/events/23178-south-african-rand-forecast-usd-zar-continues-lower-amid-gold-rally-and-soft.md) | -0.3% | +0.3% |
| DXY | 2023-12-14 | [US Dollar Forecast: EUR/USD Rally Persists Following Fed and ECB](https://feedsoft.ai/events/8303-us-dollar-forecast-eur-usd-rally-persists-following-fed-and-ecb.md) | -1.3% | -1.3% |
| DXY | 2018-05-10 | [US Dollar Forecast: Has USD Run Out Of Surprises This Month?](https://feedsoft.ai/events/65213-us-dollar-forecast-has-usd-run-out-of-surprises-this-month.md) | +0.4% | +1.1% |
| DXY | 2020-08-28 | [USD: Fed has set up the dollar for further weakness - MUFG - Forex Crunch](https://feedsoft.ai/events/51792-usd-fed-has-set-up-the-dollar-for-further-weakness-mufg-forex-crunch.md) | -0.5% | +1.0% |
| DXY | 2023-11-14 | [Canadian dollar rallies as investors cheer U.S. inflation data](https://feedsoft.ai/events/33408-canadian-dollar-rallies-as-investors-cheer-u-s-inflation-data.md) | -1.8% | -1.4% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/08/30/usd-cad-forecast-aug-31-sep-4-canadian-dollar-rally-continues/

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