# Loonie in Hottest Streak Since 1970 as U.S. Dollar Retreats - Bloomberg

> The Canadian dollar had its best annual start since floating, rallying about 3% this year as the US dollar retreated broadly. The move reflected a revaluation of US growth prospects.

- Date: 2017-01-18 · published 2017-01-18T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/73232-loonie-in-hottest-streak-since-1970-as-u-s-dollar-retreats-bloomberg
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A broad dollar retreat tends to support dollar-denominated grain and oilseed prices, though the effect on feed buyers is indirect.

## Read by commodity

- DXY: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-12-22 | [Euro (EUR USD) Hits Strongest Since August as Dollar Eases on US Rate Bets - Bloomberg](https://feedsoft.ai/events/32927-euro-eur-usd-hits-strongest-since-august-as-dollar-eases-on-us-rate-bets.md) | -0.8% | +1.5% |
| DXY | 2023-04-13 | [Euro Surges to Strongest in a Year as Fed-Cut Bets Batter Dollar - Bloomberg](https://feedsoft.ai/events/36584-euro-surges-to-strongest-in-a-year-as-fed-cut-bets-batter-dollar-bloomberg.md) | +0.3% | -0.4% |
| DXY | 2021-02-25 | [Why the U.S. Dollar Is More Robust Than It Looks - Bloomberg](https://feedsoft.ai/events/10599-why-the-u-s-dollar-is-more-robust-than-it-looks-bloomberg.md) | +0.9% | +1.7% |
| DXY | 2026-07-30 | [CNY USD: Yuan Rises to Highest Since Early 2023 as Dollar Drops After Fed - Bloomberg](https://feedsoft.ai/events/18568-cny-usd-yuan-rises-to-highest-since-early-2023-as-dollar-drops-after-fed.md) | -1.2% | -1.9% |
| DXY | 2019-06-20 | [King Dollar's Reign May Be Ending as Fed Debates a U-Turn - Bloomberg](https://feedsoft.ai/events/7436-king-dollar-s-reign-may-be-ending-as-fed-debates-a-u-turn-bloomberg.md) | -1.1% | -0.8% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-01-18/loonie-in-hottest-streak-since-1970-as-u-s-dollar-retrenches

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