# Canadian dollar steadies as Bank of Canada frets about productivity shortfall - The Globe and Mail

> The Canadian dollar was little changed near a three-month low of about 1.3585 per US dollar. Bank of Canada Senior Deputy Governor Carolyn Rogers stressed weak productivity, and oil fell as investors weighed the loss of Russian refinery capacity after Ukrainian attacks.

- Date: 2024-03-26 · published 2024-03-26T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/31435-canadian-dollar-steadies-as-bank-of-canada-frets-about-productivity-shortfall
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weak domestic productivity and an economy expected to barely grow keep the loonie under pressure, while oil moves give partial support. Feed commodity impact is limited.

## Read by commodity

- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2020-01-29 | [Canadian dollar nears seven-week low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/55300-canadian-dollar-nears-seven-week-low-as-oil-prices-fall-the-globe-and-mail.md) | -7.1% | -8.8% |
| WTI | 2022-12-07 | [Canadian dollar holds near one-month low as Bank of Canada rate hike boost fades - The Globe and Mail](https://feedsoft.ai/events/38459-canadian-dollar-holds-near-one-month-low-as-bank-of-canada-rate-hike-boost.md) | +0.5% | -0.8% |
| WTI | 2021-08-31 | [Canadian dollar steadies after ‘limited’ reaction to GDP miss - The Globe and Mail](https://feedsoft.ai/events/45789-canadian-dollar-steadies-after-limited-reaction-to-gdp-miss-the-globe-and-mail.md) | -1.2% | +8.9% |
| WTI | 2022-06-16 | [Canadian dollar falls as global central bank tightening spooks investors - The Globe and Mail](https://feedsoft.ai/events/41175-canadian-dollar-falls-as-global-central-bank-tightening-spooks-investors-the.md) | -8.7% | -14.2% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-steadies-as-bank-of-canada-frets-about-productivity/

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