# Loonie spikes to almost 81 cents as odds of a January rate hike soar to 70% | Financial Post

> The Canadian dollar hit a three-month high near 81 U.S. cents after stronger-than-expected December jobs data, with the jobless rate falling to 5.7%. Odds of a Bank of Canada rate hike at its January 17 meeting jumped to 70%. Analysts still flagged NAFTA uncertainty as a risk to the currency.

- Date: 2018-01-05 · published 2018-01-05T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/67205-loonie-spikes-to-almost-81-cents-as-odds-of-a-january-rate-hike-soar-to-70
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Expectations of Bank of Canada tightening strengthen the loonie, which can make Canadian-origin oilseed and grain exports less competitive for overseas feed buyers.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- financialpost.com: https://financialpost.com/news/economy/canada-fx-debt-c-jumps-to-3-month-high-as-jobs-data-ups-rate-hike-bets

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