# Canadian dollar arrests recent decline ahead of key CPI data | Kitco News

> The Canadian dollar was little changed near 1.3535 per US dollar after a nine-day low, as oil prices rose to a four-month high and traders awaited February CPI. Canadian home sales fell 3.1% in February.

- Date: 2024-03-18 · published 2024-03-18T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/31437-canadian-dollar-arrests-recent-decline-ahead-of-key-cpi-data-kitco-news
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Higher crude prices support the loonie, a major commodity currency, while the CPI data shapes rate-cut expectations. The effect on feed grain prices is indirect.

## Read by commodity

- WTI: bullish ▲
- USDCAD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-09-18 | [Canadian dollar hits 1-month high ahead of inflation data](https://feedsoft.ai/events/34337-canadian-dollar-hits-1-month-high-ahead-of-inflation-data.md) | -0.9% | -3.5% |
| WTI | 2023-02-23 | [Canadian dollar claws back some recent declines as oil rallies - The Globe and Mail](https://feedsoft.ai/events/37575-canadian-dollar-claws-back-some-recent-declines-as-oil-rallies-the-globe-and.md) | +4.9% | -4.3% |
| WTI | 2016-12-12 | [Canadian dollar above 76 cents US as oil surges to 1½-year high \| CBC News](https://feedsoft.ai/events/73711-canadian-dollar-above-76-cents-us-as-oil-surges-to-11-2-year-high-cbc-news.md) | +0.8% | -1.3% |
| WTI | 2020-10-27 | [Canadian Dollar Buoyed by Firmer Oil Prices, Stock Markets ahead of Bank of Canada Decision](https://feedsoft.ai/events/50859-canadian-dollar-buoyed-by-firmer-oil-prices-stock-markets-ahead-of-bank-of.md) | -4.6% | +11.7% |
| WTI | 2026-03-27 | [Canadian dollar extends weekly decline as investors favor safe havens \| Reuters](https://feedsoft.ai/events/20391-canadian-dollar-extends-weekly-decline-as-investors-favor-safe-havens-reuters.md) | +17.8% | +1.5% |

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2024-03-18/canadian-dollar-arrests-recent-decline-ahead-key-cpi-data

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