# What will reverse the loonie’s recent declines

> The loonie has fallen for a fourth straight month against the U.S. dollar, trading near 1.35 per dollar. National Bank cites a widening current account deficit, falling oil prices, and weak capital inflows, while a CIBC report flags U.S. threats of a 5% tariff on Mexican imports.

- Date: 2019-05-31 · published 2019-05-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/59320-what-will-reverse-the-loonie-s-recent-declines
- 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 softer loonie and lower oil prices together weigh on Canadian export earnings and shift the cost of Canadian feed and oilseed exports, with the Mexico tariff threat adding trade uncertainty for North American grain flows.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-07-07 | [The recent commodity sell-off](https://feedsoft.ai/events/5055-the-recent-commodity-sell-off.md) | -2.0% | -7.4% |
| WTI | 2020-03-23 | [Wither the loonie? \| ATB Financial](https://feedsoft.ai/events/54358-wither-the-loonie-atb-financial.md) | -15.4% | -54.6% |
| WTI | 2024-10-30 | [The loonie is trading at lows not seen in years. Here's what it means for Canadians](https://feedsoft.ai/events/28115-the-loonie-is-trading-at-lows-not-seen-in-years-here-s-what-it-means-for.md) | +7.1% | +2.3% |
| WTI | 2025-02-01 | [Oil Declines After Trump Says He’ll Push OPEC to Lower Prices](https://feedsoft.ai/events/26674-oil-declines-after-trump-says-he-ll-push-opec-to-lower-prices.md) | -2.1% | -5.8% |
| WTI | 2022-07-07 | [Oil Posts Weekly Decline as Recession Fears Muddle the Outlook - Bloomberg](https://feedsoft.ai/events/12616-oil-posts-weekly-decline-as-recession-fears-muddle-the-outlook-bloomberg.md) | -2.0% | -7.4% |

## Sources

- advisor.ca: https://www.advisor.ca/investments/market-insights/what-will-reverse-the-loonies-recent-declines/

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