# Threepenny Opera: Bank of Canada was ‘last, best hope’ of taming Canadian dollar’s sell-off - The Globe and Mail

> The Canadian dollar traded below 78 US cents after the Bank of Canada held rates at 1 per cent and signalled a pause in its hiking cycle. Observers expect further erosion amid NAFTA uncertainty and concerns about household debt.

- Date: 2017-10-27 · published 2017-10-27T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/68710-threepenny-opera-bank-of-canada-was-last-best-hope-of-taming-canadian-dollar-s
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

A sliding loonie makes Canadian exports cheaper in US dollar terms and can support canola and barley competitiveness. The NAFTA uncertainty also adds risk to North American feed and grain trade flows.

## Read by commodity

- USDCAD: bullish ▲
- CANMEAL: neutral

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/report-on-business/top-business-stories/the-threepenny-opera-bank-of-canada-was-last-best-hope-of-taming-the-canadian-dollarssell-off/article36733721/

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