# Canadian Dollar consolidates vs USD as BoC, FOMC decisions loom

> The Canadian dollar consolidated below 1.3700 as traders awaited BoC and FOMC decisions. US-Iran peace talks stalled after Trump canceled an envoy visit, and shipping through the Strait of Hormuz remained blocked. Rising crude supported the loonie.

- Date: 2026-04-29 · published 2026-04-29T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/19939-canadian-dollar-consolidates-vs-usd-as-boc-fomc-decisions-loom
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Hormuz disruption keeps crude and energy input costs elevated, which feeds through to fertilizer and freight costs for feed producers.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-02-22 | [Canadian dollar firms as oil surges on rising Russia-Ukraine tensions - The Globe and Mail](https://feedsoft.ai/events/42919-canadian-dollar-firms-as-oil-surges-on-rising-russia-ukraine-tensions-the-globe.md) | +5.3% | +23.0% |
| WTI | 2023-12-18 | [Canadian dollar retreats from four-month high ahead of CPI data](https://feedsoft.ai/events/32945-canadian-dollar-retreats-from-four-month-high-ahead-of-cpi-data.md) | +3.1% | +2.2% |
| WTI | 2025-12-22 | [Canadian dollar rises ahead of GDP data as oil prices climb \| Reuters](https://feedsoft.ai/events/21735-canadian-dollar-rises-ahead-of-gdp-data-as-oil-prices-climb-reuters.md) | +2.1% | +6.5% |
| WTI | 2022-07-18 | [Canadian dollar perks up with oil back near $100](https://feedsoft.ai/events/40722-canadian-dollar-perks-up-with-oil-back-near-100.md) | -2.2% | -5.0% |
| WTI | 2026-03-02 | [Dollar (USD) Gains as Higher Oil Prices Damp Bets on Fed Rate Cuts - Bloomberg](https://feedsoft.ai/events/10711-dollar-usd-gains-as-higher-oil-prices-damp-bets-on-fed-rate-cuts-bloomberg.md) | +35.6% | +50.4% |
| BRENT | 2026-03-30 | [Canadian dollar hits nearly four-month low as war raises growth concerns \| MarketScreener Canada](https://feedsoft.ai/events/20392-canadian-dollar-hits-nearly-four-month-low-as-war-raises-growth-concerns.md) | +1.2% | -5.1% |
| BRENT | 2025-12-22 | [Canadian dollar rises ahead of GDP data as oil prices climb \| Reuters](https://feedsoft.ai/events/21735-canadian-dollar-rises-ahead-of-gdp-data-as-oil-prices-climb-reuters.md) | +2.6% | +8.8% |
| BRENT | 2022-07-18 | [Canadian dollar perks up with oil back near $100](https://feedsoft.ai/events/40722-canadian-dollar-perks-up-with-oil-back-near-100.md) | -1.5% | -5.3% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/canadian-dollar-consolidates-vs-usd-as-traders-keenly-await-boc-fomc-rate-decisions-202604290234

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