# Strengthening Canadian dollar threatens to squeeze company profits - The Globe and Mail

> The Canadian dollar closed at 75.91 US cents on Tuesday, near a three-month high, supported by oil prices and stronger wholesale data. Analysts expect further gains as US rate cuts become more likely.

- Date: 2019-06-25 · published 2019-06-25T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/58832-strengthening-canadian-dollar-threatens-to-squeeze-company-profits-the-globe
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A strengthening loonie raises the US-dollar cost of Canadian exports, which can weigh on Canadian canola and feed grain competitiveness.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-02-17 | [Why oil and the Canadian dollar are breaking up - The Globe and Mail](https://feedsoft.ai/events/42921-why-oil-and-the-canadian-dollar-are-breaking-up-the-globe-and-mail.md) | -1.1% | +9.8% |
| WTI | 2021-02-25 | [Canadian dollar retreats from three-year high as U.S. bond yields soar - The Globe and Mail](https://feedsoft.ai/events/48889-canadian-dollar-retreats-from-three-year-high-as-u-s-bond-yields-soar-the-globe.md) | -3.0% | -3.3% |
| WTI | 2023-09-22 | [Rate hike bets lift Canadian dollar to second straight weekly gain - The Globe and Mail](https://feedsoft.ai/events/34334-rate-hike-bets-lift-canadian-dollar-to-second-straight-weekly-gain-the-globe.md) | +2.3% | -0.3% |
| WTI | 2026-04-29 | [Canadian dollar steadies as oil lifts BoC rate hike bets - The Globe and Mail](https://feedsoft.ai/events/19934-canadian-dollar-steadies-as-oil-lifts-boc-rate-hike-bets-the-globe-and-mail.md) | +2.2% | -10.9% |
| WTI | 2024-03-28 | [Canadian dollar gains as data shows economy ‘humming along’ - The Globe and Mail](https://feedsoft.ai/events/31432-canadian-dollar-gains-as-data-shows-economy-humming-along-the-globe-and-mail.md) | +6.4% | +3.2% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/business/article-loonie-gathers-steam-against-us-dollar-spelling-potential-trouble/

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