# Canadian dollar under pressure as oil retreats and US rate outlook supports greenb By Investing.com

> The Canadian dollar weakened on Sept 21 as falling oil prices and expectations of further US tightening weighed on it. USD/CAD moved above 1.40 after the loonie hit its lowest level since Aug 7 the previous week.

- Date: 2026-09-21 · published 2026-09-21T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/17703-canadian-dollar-under-pressure-as-oil-retreats-and-us-rate-outlook-supports
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower crude and a stronger US rate outlook weaken the commodity-linked loonie, which can lower the cost of Canadian exports to foreign buyers. The effect on feed prices is modest.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2026-09-25 | 1 | -7.5% | -3.6 | Reports of oil retreating around Sept 21 are consistent with the sharp WTI decline in the window, though the date is after the Sept 25 move and the article gives no cause for the drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-04-17 | [Canadian dollar slips, pressured by Fed rate hike bets - The Globe and Mail](https://feedsoft.ai/events/36641-canadian-dollar-slips-pressured-by-fed-rate-hike-bets-the-globe-and-mail.md) | -5.7% | -15.2% |
| WTI | 2018-10-23 | [Canadian dollar shakes off plunge in oil as investors brace for BoC rate hike - The Globe and Mail](https://feedsoft.ai/events/62779-canadian-dollar-shakes-off-plunge-in-oil-as-investors-brace-for-boc-rate-hike.md) | -3.2% | -17.6% |
| WTI | 2024-07-26 | [Canadian dollar posts longest losing streak in six years as oil falls - The Globe and Mail](https://feedsoft.ai/events/29504-canadian-dollar-posts-longest-losing-streak-in-six-years-as-oil-falls-the-globe.md) | -2.3% | -7.0% |
| WTI | 2022-11-16 | [Canadian dollar retreats from 100-day moving average as inflation holds steady - The Globe and Mail](https://feedsoft.ai/events/38907-canadian-dollar-retreats-from-100-day-moving-average-as-inflation-holds-steady.md) | -6.9% | -11.2% |
| WTI | 2018-10-31 | [Lower Oil Prices: Canadian Dollar Hits 7-Week Low \| Investors King](https://feedsoft.ai/events/62781-lower-oil-prices-canadian-dollar-hits-7-week-low-investors-king.md) | -6.0% | -24.2% |

## Sources

- uk.investing.com: https://uk.investing.com/news/forex-news/canadian-dollar-under-pressure-as-oil-retreats-and-us-rate-outlook-supports-greenb-4876473

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