# Loonie dips against U.S. dollar, pressured by Bank of Canada rate cut speculation | Financial Post

> The Canadian dollar edged lower against the U.S. dollar, trading 0.1% weaker at 1.3304 after reaching a near two-week high the previous day. Traders weighed a possible surprise Bank of Canada rate cut the following week, though one dealer questioned whether a cut was justified. Oil prices rose after a larger-than-expected drop in U.S. crude inventories.

- Date: 2019-08-28 · published 2019-08-28T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/57820-loonie-dips-against-u-s-dollar-pressured-by-bank-of-canada-rate-cut-speculation
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Expectations of Bank of Canada easing weaken the loonie, which raises the cost of U.S.-dollar-priced feed imports for Canadian buyers. A firmer oil price supports the Canadian dollar, partly offsetting that pressure.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- financialpost.com: https://financialpost.com/investing/c-dips-pressured-by-surprise-rate-cut-speculation

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