# Forecasts for the loonie and U.S. dollar

> CIBC Asset Management's Luc de la Durantaye said the COVID-19 shock drove the US dollar higher in March through a shortage of dollars, but Federal Reserve liquidity measures have reversed the rise. He expects a stabilizing or weaker dollar if the pandemic eases by late May or June, with a more bearish outlook if a second wave hits in the fall.

- Date: 2020-04-22 · published 2020-04-22T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/53870-forecasts-for-the-loonie-and-u-s-dollar
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A weaker US dollar would typically support dollar-priced commodity demand from importers, while a renewed dollar spike would weigh on US-priced grains and oilseeds.

## Read by commodity

- DXY: neutral
- USDCAD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-01-30 | [Multiple fault lines for the Aussie dollar](https://feedsoft.ai/events/67228-multiple-fault-lines-for-the-aussie-dollar.md) | +0.2% | +1.0% |
| DXY | 2019-03-06 | [Exchange & Interest Rate Forecasts For Euro, Dollar And Pound Sterling: ING](https://feedsoft.ai/events/60348-exchange-and-amp-interest-rate-forecasts-for-euro-dollar-and-pound-sterling-ing.md) | +0.1% | +0.3% |
| DXY | 2026-01-30 | [Affording the dollar’s decline \| UBS Global](https://feedsoft.ai/events/21242-affording-the-dollar-s-decline-ubs-global.md) | +0.9% | +0.3% |
| DXY | 2023-02-22 | [Watch the dollar for de-globalisation](https://feedsoft.ai/events/37523-watch-the-dollar-for-de-globalisation.md) | +0.6% | +0.2% |
| DXY | 2026-01-30 | [US Dollar Weekly Forecast: The Fed is seen reducing rates twice in 2026](https://feedsoft.ai/events/21241-us-dollar-weekly-forecast-the-fed-is-seen-reducing-rates-twice-in-2026.md) | +0.9% | +0.3% |

## Sources

- advisor.ca: https://www.advisor.ca/investments/market-insights/forecasts-for-the-loonie-and-u-s-dollar/

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