# Canadian dollar strengthens as Fed’s patience bruises greenback - The Globe and Mail

> The Canadian dollar edged higher against the U.S. dollar after an early decline, as oil prices recovered and Fed Chair Jerome Powell signalled patience on further rate hikes. The U.S. dollar fell to a three-week low, and U.S. crude settled at $55.50 a barrel.

- Date: 2019-02-26 · published 2019-02-26T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/60837-canadian-dollar-strengthens-as-fed-s-patience-bruises-greenback-the-globe-and
- 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 softer greenback and firmer oil support the loonie, which lowers the USD/CAD rate. For feed buyers, this has little direct effect on grain or oilseed prices, but a weaker dollar can modestly support U.S. commodity export prices.

## Read by commodity

- DXY: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-12-01 | [Canadian dollar strengthens as economy grows at a record pace - The Globe and Mail](https://feedsoft.ai/events/49874-canadian-dollar-strengthens-as-economy-grows-at-a-record-pace-the-globe-and-mail.md) | -1.2% | -1.7% |
| DXY | 2020-07-29 | [Canadian dollar gains as investors sell greenbacks on ‘downbeat’ Fed - The Globe and Mail](https://feedsoft.ai/events/52351-canadian-dollar-gains-as-investors-sell-greenbacks-on-downbeat-fed-the-globe.md) | +0.4% | -0.4% |
| DXY | 2019-04-26 | [Canadian dollar rises as U.S. growth composition weighs on greenback - The Globe and Mail](https://feedsoft.ai/events/59816-canadian-dollar-rises-as-u-s-growth-composition-weighs-on-greenback-the-globe.md) | -0.2% | +0.4% |
| DXY | 2021-07-28 | [Canadian dollar gains as Fed readies new money market facilities - The Globe and Mail](https://feedsoft.ai/events/46270-canadian-dollar-gains-as-fed-readies-new-money-market-facilities-the-globe-and.md) | -0.4% | +0.4% |
| DXY | 2021-08-30 | [Canadian dollar notches two-week high as Fed taper fears ebb - The Globe and Mail](https://feedsoft.ai/events/45790-canadian-dollar-notches-two-week-high-as-fed-taper-fears-ebb-the-globe-and-mail.md) | -0.7% | +0.4% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-claws-back-losses-as-oil-rises-fed-signals-patience/

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