# Canadian dollar falls as shutdowns leave scar on economic data - The Globe and Mail

> The Canadian dollar weakened 0.3% against the US dollar on June 18 as coronavirus case increases and a record 21.6% drop in April wholesale trade weighed on sentiment. ADP data showed 208,400 Canadian jobs added in May, though April losses were revised to 2.36 million. The Bank of Canada expects a prolonged, uneven recovery.

- Date: 2020-06-18 · published 2020-06-18T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/52862-canadian-dollar-falls-as-shutdowns-leave-scar-on-economic-data-the-globe-and
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Weak Canadian trade and a slow recovery reduce demand for imports and push the loonie lower, which affects Canadian buyers' costs. The effect on feed markets is marginal.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-dips-as-data-shows-economic-scarring-of-shutdowns/

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