# The Talented Mr. Loonie

> BMO's Douglas Porter noted the Canadian dollar rose above 76 US cents in a week of tentative deals, including a preliminary US-China Phase 1 agreement and a Brexit arrangement. The loonie was up 3.8% year to date and was the strongest major currency in 2019. The rise was mainly driven by a broad weakness in the US dollar.

- Date: 2019-10-18 · published 2019-10-18T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/56799-the-talented-mr-loonie
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Broad US dollar weakness and risk-on sentiment from trade progress shift currency values that influence the export competitiveness and import costs for feed commodities.

## Read by commodity

- DXY: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-06-20 | [Why investors should prepare for a stronger loonie - The Globe and Mail](https://feedsoft.ai/events/58835-why-investors-should-prepare-for-a-stronger-loonie-the-globe-and-mail.md) | -1.1% | -0.8% |
| DXY | 2020-08-24 | [Why the loonie's bond with oil remains strong \| Wealth Professional](https://feedsoft.ai/events/51860-why-the-loonie-s-bond-with-oil-remains-strong-wealth-professional.md) | -1.0% | -0.6% |
| DXY | 2026-01-31 | [Loonie on a wild ride as global investors reassess the greenback - The Globe and Mail](https://feedsoft.ai/events/21282-loonie-on-a-wild-ride-as-global-investors-reassess-the-greenback-the-globe-and.md) | +0.3% | +0.7% |
| DXY | 2017-01-31 | [Loonie rallies as Trump’s ‘guns of Navarro’ knock U.S. dollar - The Globe and Mail](https://feedsoft.ai/events/73203-loonie-rallies-as-trump-s-guns-of-navarro-knock-u-s-dollar-the-globe-and-mail.md) | -0.6% | -0.6% |
| DXY | 2020-03-03 | [Fed and the FX markets: Tainted carry \| articles \| ING THINK](https://feedsoft.ai/events/7170-fed-and-the-fx-markets-tainted-carry-articles-ing-think.md) | +0.3% | +5.5% |

## Sources

- economics.bmo.com: https://economics.bmo.com/en/publications/detail/c750cc9e-355b-408e-b854-c023ce05ee9d/

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