# C$ weakens on monetary policy divergence prospects

> The Canadian dollar is forecast to close 2016 at 1.3700 per US dollar and depreciate further. The US dollar and bond yields climbed as US data showed the economy on track for steady growth.

- Date: 2016-11-23 · published 2016-11-23T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/74052-c-weakens-on-monetary-policy-divergence-prospects
- 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 weaker loonie makes Canadian exports such as canola meal and barley cheaper for foreign buyers, while a firmer dollar supports US dollar-priced grain and meal values.

## Read by commodity

- DXY: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-11-06 | [Markets question degree of monetary divergence](https://feedsoft.ai/events/68156-markets-question-degree-of-monetary-divergence.md) | -0.1% | -1.3% |
| DXY | 2022-06-02 | [An Update on the Economy and Monetary Policy](https://feedsoft.ai/events/40854-an-update-on-the-economy-and-monetary-policy.md) | -0.3% | +1.9% |
| DXY | 2021-11-18 | [Euro hit by bets ECB monetary policy will diverge from major peers – The Irish Times](https://feedsoft.ai/events/11950-euro-hit-by-bets-ecb-monetary-policy-will-diverge-from-major-peers-the-irish.md) | +1.1% | +0.6% |
| DXY | 2017-11-23 | [Account of the monetary policy meeting](https://feedsoft.ai/events/68185-account-of-the-monetary-policy-meeting.md) | -0.1% | +0.3% |
| DXY | 2018-11-22 | [Account of the monetary policy meeting](https://feedsoft.ai/events/62238-account-of-the-monetary-policy-meeting.md) | +0.1% | +0.1% |

## Sources

- reuters.com: https://www.reuters.com/article/canada-forex-idUSL1N1DO1VL/?feedName=usDollarRpt&feedType=RSS

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