# USD/CAD slides to 1.3530, pressured by bullish Oil and weak USD

> USD/CAD fell to 1.3530, its lowest since October 2024, as crude oil rose to a four-month high on geopolitical risk and Chinese buying. Expectations of Fed rate cuts later in 2026 added pressure on the US dollar.

- Date: 2026-01-29 · published 2026-01-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/21290-usd-cad-slides-to-1-3530-pressured-by-bullish-oil-and-weak-usd
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher crude prices support the commodity-linked loonie and feed-related energy costs. Dollar weakness is a supportive macro factor for dollar-priced grains and oilseeds.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- BRENT: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-04-25 | [Oil Futures Up, Shake Off Weakness Spurred by GDP Surprise](https://feedsoft.ai/events/30914-oil-futures-up-shake-off-weakness-spurred-by-gdp-surprise.md) | -4.2% | -6.0% |
| WTI | 2026-04-29 | [USD/CAD round-trips to 1.3690 as the post-FOMC spike fully fades](https://feedsoft.ai/events/19938-usd-cad-round-trips-to-1-3690-as-the-post-fomc-spike-fully-fades.md) | +2.2% | -10.9% |
| WTI | 2018-01-13 | [Colombia peso boosted by weak dollar and rising oil prices - Colombia News](https://feedsoft.ai/events/67263-colombia-peso-boosted-by-weak-dollar-and-rising-oil-prices-colombia-news.md) | -1.0% | -7.6% |
| WTI | 2024-07-31 | [USD/CAD falls below 1.3800 as GDP beats and oil sizzles ahead of FOMC decision](https://feedsoft.ai/events/29501-usd-cad-falls-below-1-3800-as-gdp-beats-and-oil-sizzles-ahead-of-fomc-decision.md) | -2.1% | +0.6% |
| WTI | 2023-08-25 | [Oil futures up 1% to one-week high on soaring US diesel prices](https://feedsoft.ai/events/34772-oil-futures-up-1-to-one-week-high-on-soaring-us-diesel-prices.md) | +5.3% | +13.4% |
| BRENT | 2026-04-30 | [South Korean Won Weakens to 1,480s as Oil Surges and Fed Turns More Hawkish \| Aju Press](https://feedsoft.ai/events/19955-south-korean-won-weakens-to-1-480s-as-oil-surges-and-fed-turns-more-hawkish-aju.md) | -15.3% | -21.9% |
| BRENT | 2024-04-25 | [Oil Futures Up, Shake Off Weakness Spurred by GDP Surprise](https://feedsoft.ai/events/30914-oil-futures-up-shake-off-weakness-spurred-by-gdp-surprise.md) | -5.7% | -8.6% |
| BRENT | 2026-03-17 | [USD/THB: BofA raises Thailand baht forecast on oil shock, tourism weakness By Investing.com](https://feedsoft.ai/events/20444-usd-thb-bofa-raises-thailand-baht-forecast-on-oil-shock-tourism-weakness-by.md) | +1.2% | +5.4% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/usd-cad-slide-to-13530-lowest-since-october-2024-amid-bullish-oil-prices-and-weak-usd-202601290056

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