# Canadian dollar pares weekly gain as soft data lifts rate cut bets - The Globe and Mail

> The Canadian dollar weakened against the U.S. dollar on Friday, giving back much of the week's gains, after Statistics Canada reported a 1.2% drop in October retail sales versus expectations of a 0.5% rise. Chances of a Bank of Canada rate cut within a year jumped to nearly 50% from about 25%.

- Date: 2019-12-20 · published 2019-12-20T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/55800-canadian-dollar-pares-weekly-gain-as-soft-data-lifts-rate-cut-bets-the-globe
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A weaker loonie and rate-cut bets lower the cost of USD-priced grains and oilseeds for Canadian buyers, while signalling softer domestic demand. The effect on feed commodity prices is minimal.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-gives-up-weekly-gain-on-retail-sales-miss/

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