# Loonie Rises to 80 U.S. Cents as Canada Booms

> The loonie rose to 80 U.S. cents for the first time in more than a year as evidence accumulated that the Canadian economy was gathering speed. It has advanced almost 10 percent from a 16-month low on May 4.

- Date: 2017-08-01 · published 2017-08-01T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/70220-loonie-rises-to-80-u-s-cents-as-canada-booms
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Currency strength reduces the price competitiveness of Canadian agricultural exports, which can soften demand for Canadian grain and oilseed origin.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-07-24/loonie-rises-to-two-year-high-of-80-u-s-cents-as-canada-booms

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