# Canadian dollar gains as investors sell greenbacks on ‘downbeat’ Fed - The Globe and Mail

> The Canadian dollar rose against the USD on Wednesday after a dovish Federal Reserve statement pushed the greenback to a two-year low. Oil gained 0.6% to $41.27 a barrel, and Ontario moved Toronto into the next reopening stage.

- Date: 2020-07-29 · published 2020-07-29T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/52351-canadian-dollar-gains-as-investors-sell-greenbacks-on-downbeat-fed-the-globe
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker US dollar tends to support dollar-denominated commodity prices, while firmer crude adds support to energy-linked feed inputs.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-02-26 | [Canadian dollar strengthens as Fed’s patience bruises greenback - The Globe and Mail](https://feedsoft.ai/events/60837-canadian-dollar-strengthens-as-fed-s-patience-bruises-greenback-the-globe-and.md) | +0.5% | +0.2% |
| DXY | 2019-04-26 | [Canadian dollar rises as U.S. growth composition weighs on greenback - The Globe and Mail](https://feedsoft.ai/events/59816-canadian-dollar-rises-as-u-s-growth-composition-weighs-on-greenback-the-globe.md) | -0.2% | +0.4% |
| DXY | 2021-07-28 | [Canadian dollar gains as Fed readies new money market facilities - The Globe and Mail](https://feedsoft.ai/events/46270-canadian-dollar-gains-as-fed-readies-new-money-market-facilities-the-globe-and.md) | -0.4% | +0.4% |
| DXY | 2025-06-26 | [Canadian Dollar gains ground on Thursday as Greenback weakens](https://feedsoft.ai/events/24457-canadian-dollar-gains-ground-on-thursday-as-greenback-weakens.md) | -0.9% | -0.6% |
| DXY | 2026-01-31 | [Loonie on a wild ride as global investors reassess the greenback - The Globe and Mail](https://feedsoft.ai/events/21282-loonie-on-a-wild-ride-as-global-investors-reassess-the-greenback-the-globe-and.md) | +0.3% | +0.7% |
| WTI | 2019-01-29 | [Canadian dollar dips as investors turn attention to Fed - The Globe and Mail](https://feedsoft.ai/events/61320-canadian-dollar-dips-as-investors-turn-attention-to-fed-the-globe-and-mail.md) | +5.2% | +6.8% |
| WTI | 2022-12-20 | [Canadian dollar gains as investors weigh Bank of Japan’s policy shift - The Globe and Mail](https://feedsoft.ai/events/38457-canadian-dollar-gains-as-investors-weigh-bank-of-japan-s-policy-shift-the-globe.md) | +5.8% | +7.0% |
| WTI | 2022-09-27 | [Surging bond yields spook investors, capping Canadian dollar gains - The Globe and Mail](https://feedsoft.ai/events/39815-surging-bond-yields-spook-investors-capping-canadian-dollar-gains-the-globe-and.md) | +9.0% | +11.1% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-firms-as-rising-us-coronavirus-cases-weigh-on/

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