# Loonie strengthens as data shows consumer confidence rebounding - Markets - Business Recorder

> The Canadian dollar rose 0.2% against the US dollar on June 29 as oil gained 0.9% and the Conference Board's consumer confidence index rose 16 points to 79.7 in June. Statistics Canada also reported building permits rose 20.2% in May.

- Date: 2020-06-29 · published 2020-06-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/52859-loonie-strengthens-as-data-shows-consumer-confidence-rebounding-markets
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Improving Canadian economic data supports oil and the loonie, which affects import costs for Canadian feed buyers. The effect on feed grain prices is small.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-08-23 | [Rebound in commodity prices, weaker dollar lift Latam currencies - Markets - Business Recorder](https://feedsoft.ai/events/45760-rebound-in-commodity-prices-weaker-dollar-lift-latam-currencies-markets.md) | +10.5% | +13.0% |
| WTI | 2023-09-27 | [Thai baht, Malaysian ringgit lead Asian FX lower on extended dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/34366-thai-baht-malaysian-ringgit-lead-asian-fx-lower-on-extended-dollar-strength.md) | -2.0% | -7.4% |
| WTI | 2021-08-30 | [Dollar pinned as Powell plods toward tapering - Markets - Business Recorder](https://feedsoft.ai/events/45483-dollar-pinned-as-powell-plods-toward-tapering-markets-business-recorder.md) | +0.8% | +9.7% |
| WTI | 2026-09-28 | [Asian currencies: Thai baht hits two-month low as oil prices surge - Markets - Business Recorder](https://feedsoft.ai/events/17732-asian-currencies-thai-baht-hits-two-month-low-as-oil-prices-surge-markets.md) | +9.1% | +18.9% |
| WTI | 2023-01-26 | [Canadian dollar notches two-month high as stocks climb - Markets - Business Recorder](https://feedsoft.ai/events/38036-canadian-dollar-notches-two-month-high-as-stocks-climb-markets-business-recorder.md) | -4.4% | -5.8% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40001640

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