Loonie rallies as Trump’s ‘guns of Navarro’ knock U.S. dollar

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

• May 25, 2022As U.S. economy’s exceptionalism fades, so does the dollar - The Globe and Mail+0.1%
• Apr 26, 2019Canadian dollar rises as U.S. growth composition weighs on greenback - The Globe and Mail-0.2%
• Aug 22, 2025Canadian dollar rallies the most in three months as Fed’s Powell signals possible rate cut - The Globe and Mail-0.7%
• Jul 28, 2021Canadian dollar gains as Fed readies new money market facilities - The Globe and Mail-0.4%
• Feb 26, 2019Canadian dollar strengthens as Fed’s patience bruises greenback - The Globe and Mail+0.5%

After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.

• May 25, 2022As U.S. economy’s exceptionalism fades, so does the dollar - The Globe and Mail-0.9%
• Apr 14, 2025Why the U.S. dollar has plunged and euro soared on Trump tariffs+0.6%
• Jan 27, 2026Dollar sinks to four-year low, Trump brushes off the decline | Reuters-0.7%
• Feb 11, 2026Euro and yuan global ambitions hasten the dollar drop | Reuters-0.7%
• Dec 1, 2020Why the U.S. dollar is trading at a 2 1/2-year low - MarketWatch+1.6%

Not enough comparable past events yet for a historical read.