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The Canadian dollar gained 0.2% to about 1.41 per US dollar after touching its weakest level since July 14 earlier in the session. Oil fell 4.2% to $79.18 a barrel on cautious optimism about a US-Iran resolution, while traders awaited the Fed decision.
Lower oil prices reduce energy costs and weigh on the Canadian dollar, which affects the dollar cost of Canadian exports. The impact on feed commodity prices is modest.
reuters.comFergal SmithJul 28, 2026Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, WTI moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
