# USD/CAD: Pair Surges To 2 Week High On Dovish BoC - Currency Live

> The US dollar rose about 0.5% against the Canadian dollar on October 30, its biggest daily gain in almost a month, closing at 1.3160. The Federal Reserve cut its policy rate by 25 basis points to 1.50%-1.75% and signaled a pause, while the Bank of Canada held rates steady.

- Date: 2019-10-31 · published 2019-10-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/56793-usd-cad-pair-surges-to-2-week-high-on-dovish-boc-currency-live
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger US dollar against the loonie makes Canadian-origin feed inputs such as canola meal cheaper for US buyers and slightly weakens Canadian export commodity prices in dollar terms.

## Read by commodity

- DXY: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-09-26 | [USD reaches high price, currencies depreciate to record low](https://feedsoft.ai/events/39883-usd-reaches-high-price-currencies-depreciate-to-record-low.md) | +0.2% | +0.6% |
| DXY | 2024-06-28 | [USD/CAD advances to over one-week high, holds above 1.3700 as traders look to US PCE data — Octa](https://feedsoft.ai/events/30015-usd-cad-advances-to-over-one-week-high-holds-above-1-3700-as-traders-look-to-us.md) | -0.7% | -0.5% |
| DXY | 2016-11-30 | [Dollar surges to 8-1/2-month high against yen on OPEC deal](https://feedsoft.ai/events/74079-dollar-surges-to-8-1-2-month-high-against-yen-on-opec-deal.md) | -0.6% | +1.3% |
| DXY | 2022-05-05 | [Dollar surges to 2-decade high as investors seek refuge \| AP News](https://feedsoft.ai/events/8316-dollar-surges-to-2-decade-high-as-investors-seek-refuge-ap-news.md) | +0.7% | -1.2% |
| DXY | 2021-06-17 | [Dollar surges to two-month high on Fed rate-hike projection](https://feedsoft.ai/events/5930-dollar-surges-to-two-month-high-on-fed-rate-hike-projection.md) | +1.1% | +1.7% |

## Sources

- currencylive.com: https://currencylive.com/news/101365-usd-cad-loonie-rallies-to-2-week-high-on-dovish-boc/

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