# Why the outlook for the loonie is such a bummer - The Globe and Mail

> Analysts say the Canadian dollar is poised to slump further after the CFTC showed speculators swinging from a net long of $1.6 billion to a net short of $1.8 billion as of March 21. The loonie traded near 75 U.S. cents, and two strategists consider it overvalued.

- Date: 2017-03-30 · published 2017-03-30T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/72214-why-the-outlook-for-the-loonie-is-such-a-bummer-the-globe-and-mail
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker loonie makes Canadian grains and oilseeds cheaper for dollar-based buyers, and lower crude prices weigh on the currency; for feed buyers the effect is mainly through Canadian canola meal and barley export competitiveness.

## Read by commodity

- WTI: neutral
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-11-28 | [Canadian dollar posts biggest decline in six weeks as China outlook weighs - The Globe and Mail](https://feedsoft.ai/events/38906-canadian-dollar-posts-biggest-decline-in-six-weeks-as-china-outlook-weighs-the.md) | +4.6% | +4.2% |
| WTI | 2021-09-30 | [Why are gas prices on the rise and what does this mean for Singapore? - CNA](https://feedsoft.ai/events/45222-why-are-gas-prices-on-the-rise-and-what-does-this-mean-for-singapore-cna.md) | +3.5% | +10.2% |
| WTI | 2026-06-11 | [IDR/USD: Why the Rupiah Is Falling and What It Means for Indonesia’s Economy - Bloomberg](https://feedsoft.ai/events/19106-idr-usd-why-the-rupiah-is-falling-and-what-it-means-for-indonesia-s-economy.md) | -14.0% | -24.3% |
| WTI | 2022-10-17 | [Canadian dollar gains as investors weigh high inflation expectations - The Globe and Mail](https://feedsoft.ai/events/39353-canadian-dollar-gains-as-investors-weigh-high-inflation-expectations-the-globe.md) | -0.7% | +3.7% |
| WTI | 2017-01-24 | [Is it too late for a Colombian oil boom? \| Global Risk Insights](https://feedsoft.ai/events/73274-is-it-too-late-for-a-colombian-oil-boom-global-risk-insights.md) | -0.3% | +2.4% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/report-on-business/top-business-stories/canadian-dollar-loonie-cadusd-usdcad-interest-rates-lululemon-cenovus-nafta-update/article34486575/

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