# David Rosenberg: Why I’m turning bullish on the Canadian dollar - The Globe and Mail

> Columnist David Rosenberg argues the Canadian dollar is undervalued relative to oil prices and expects the loonie to strengthen. He says the recent US tariffs on Canadian dairy and softwood lumber will trim Canadian GDP growth by less than 0.1 percent. He cites oil near $50 a barrel as supportive.

- Date: 2017-04-27 · published 2017-04-27T12:00:00.000Z
- Category: macro · region US-Canada · magnitude low
- Page: https://feedsoft.ai/events/71745-david-rosenberg-why-i-m-turning-bullish-on-the-canadian-dollar-the-globe-and
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The view is an opinion on currency valuation, not a new event. If the loonie firms on higher oil, Canadian-origin feed costs for US buyers would rise, but the effect on feed commodities is small.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-02-17 | [Why oil and the Canadian dollar are breaking up - The Globe and Mail](https://feedsoft.ai/events/42921-why-oil-and-the-canadian-dollar-are-breaking-up-the-globe-and-mail.md) | -1.1% | +9.8% |
| WTI | 2022-04-21 | [Canadian dollar adds to recent gains on hawkish BoC outlook - The Globe and Mail](https://feedsoft.ai/events/42108-canadian-dollar-adds-to-recent-gains-on-hawkish-boc-outlook-the-globe-and-mail.md) | -0.6% | +6.8% |
| WTI | 2021-12-16 | [Canadian dollar rallies as more central banks move on inflation - The Globe and Mail](https://feedsoft.ai/events/43854-canadian-dollar-rallies-as-more-central-banks-move-on-inflation-the-globe-and.md) | +2.7% | +15.7% |
| WTI | 2019-01-29 | [Canadian dollar dips as investors turn attention to Fed - The Globe and Mail](https://feedsoft.ai/events/61320-canadian-dollar-dips-as-investors-turn-attention-to-fed-the-globe-and-mail.md) | +5.2% | +6.8% |
| WTI | 2022-06-03 | [Canadian dollar dips but posts 3rd weekly gain on soaring oil prices - The Globe and Mail](https://feedsoft.ai/events/41187-canadian-dollar-dips-but-posts-3rd-weekly-gain-on-soaring-oil-prices-the-globe.md) | +4.0% | -6.2% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/globe-investor/inside-the-market/david-rosenberg-why-im-turning-bullish-on-the-canadian-dollar/article34828294/

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