# USD/CAD: Trade Deal Weighs On US Dollar - Currency Live

> The US dollar fell against the Canadian dollar for a third straight week, closing at 1.3178 after a more dovish Federal Reserve and the US-China phase-one deal. The deal would cut US tariffs on $150 billion of Chinese goods to 7.5%, while China agreed to raise US farm purchases.

- Date: 2019-12-16 · published 2019-12-16T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/55809-usd-cad-trade-deal-weighs-on-us-dollar-currency-live
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Increased Chinese agricultural purchases from the US support soybean and corn export demand, while a weaker dollar generally supports US commodity prices. The currency effect on Canada is smaller than for other majors.

## Read by commodity

- DXY: bearish ▼
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-09-26 | [AUD/USD: Australian Dollar Advances On US — China Trade Optimism - Currency Live](https://feedsoft.ai/events/57331-aud-usd-australian-dollar-advances-on-us-china-trade-optimism-currency-live.md) | +2.8% | +5.0% |
| SOY | 2018-12-03 | [US-China trade war truce dings dollar; Aussie, yuan advance](https://feedsoft.ai/events/6921-us-china-trade-war-truce-dings-dollar-aussie-yuan-advance.md) | +1.7% | +0.0% |
| SOY | 2019-08-13 | [US dollar soars against the Japanese yen on easing trade tensions](https://feedsoft.ai/events/57815-us-dollar-soars-against-the-japanese-yen-on-easing-trade-tensions.md) | -0.9% | -0.3% |
| SOY | 2019-04-03 | [Farmers delay pricing soy in Argentina trade-currency wager](https://feedsoft.ai/events/59634-farmers-delay-pricing-soy-in-argentina-trade-currency-wager.md) | -0.1% | -6.7% |
| SOY | 2020-02-18 | [China takes steps to make good on trade deal](https://feedsoft.ai/events/54482-china-takes-steps-to-make-good-on-trade-deal.md) | -2.2% | -8.1% |
| CORN | 2020-02-18 | [China takes steps to make good on trade deal](https://feedsoft.ai/events/54482-china-takes-steps-to-make-good-on-trade-deal.md) | -1.7% | -3.5% |
| CORN | 2019-06-19 | [Mexico's Senate approves trade deal with US, Canada \| AP News](https://feedsoft.ai/events/58812-mexico-s-senate-approves-trade-deal-with-us-canada-ap-news.md) | +1.3% | -1.6% |
| CORN | 2020-08-10 | [Phase One Trade Deal Lifting Sorghum Prices Higher -](https://feedsoft.ai/events/51676-phase-one-trade-deal-lifting-sorghum-prices-higher.md) | +4.0% | +9.0% |

## Sources

- currencylive.com: https://currencylive.com/news/101776-usd-cad-trade-deal-weighs-on-us-dollar/

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