# Canadian Dollar Hits Six-Day Low While US Dollar Gains Strength - Finimize

> The Canadian dollar hit a six-day low of 1.3530 per U.S. dollar after Fed Chair Powell's remarks lifted U.S. bond yields. Markets priced about a 65% chance of a quarter-point Fed cut in November, and oil prices edged lower.

- Date: 2024-09-30 · published 2024-09-30T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/28561-canadian-dollar-hits-six-day-low-while-us-dollar-gains-strength-finimize
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Rate expectations are driving the U.S. dollar higher against the loonie, and softer oil prices weigh on Canadian export earnings. For feed buyers the effect runs through macro currency channels rather than direct crop supply.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-10-26 | [Canadian dollar hits 10-day low as virus clips global outlook \| Financial Post](https://feedsoft.ai/events/50854-canadian-dollar-hits-10-day-low-as-virus-clips-global-outlook-financial-post.md) | -10.3% | +5.7% |
| WTI | 2022-04-29 | [Canadian dollar hits 7-week low - Business & Finance - Business Recorder](https://feedsoft.ai/events/42107-canadian-dollar-hits-7-week-low-business-and-finance-business-recorder.md) | +2.6% | +9.5% |
| WTI | 2017-11-29 | [Canadian dollar hits near 4-week low versus firmer US$ - The Business Times](https://feedsoft.ai/events/68198-canadian-dollar-hits-near-4-week-low-versus-firmer-us-the-business-times.md) | -0.6% | +2.9% |
| WTI | 2022-10-31 | [Canadian dollar slips to six-day low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/39347-canadian-dollar-slips-to-six-day-low-as-oil-prices-fall-the-globe-and-mail.md) | +5.4% | -12.2% |
| WTI | 2018-05-31 | [US dollar falls significantly against Canadian dollar \| FXEmpire](https://feedsoft.ai/events/65248-us-dollar-falls-significantly-against-canadian-dollar-fxempire.md) | -5.1% | +11.1% |

## Sources

- finimize.com: https://finimize.com/content/canadian-dollar-hits-six-day-low-while-us-dollar-gains-strength

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