# Canadian dollar falls the most in 3 months, weighed by soft factory data - The Globe and Mail

> The Canadian dollar posted its biggest decline in nearly three months on Tuesday, falling 0.7% to 1.3325 per US dollar. Oil fell on rate jitters and easing Red Sea supply concerns, while Canada's December manufacturing PMI dropped to 45.4, its lowest since May 2020.

- Date: 2024-01-02 · published 2024-01-02T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/32340-canadian-dollar-falls-the-most-in-3-months-weighed-by-soft-factory-data-the
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weak Canadian factory data and softer oil reduce loonie strength and signal softer Canadian industrial demand, with limited direct feed price effects.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-12-21 | [Canadian dollar falls by most since October as new virus strain clouds outlook - The Globe and Mail](https://feedsoft.ai/events/49869-canadian-dollar-falls-by-most-since-october-as-new-virus-strain-clouds-outlook.md) | -3.1% | +8.4% |
| WTI | 2025-11-19 | [Canadian dollar falls the most in four months after key US data cancelled \| Reuters](https://feedsoft.ai/events/22180-canadian-dollar-falls-the-most-in-four-months-after-key-us-data-cancelled.md) | -5.1% | -8.5% |
| WTI | 2024-07-26 | [Canadian dollar posts longest losing streak in six years as oil falls - The Globe and Mail](https://feedsoft.ai/events/29504-canadian-dollar-posts-longest-losing-streak-in-six-years-as-oil-falls-the-globe.md) | -2.3% | -7.0% |
| 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% |
| WTI | 2023-02-15 | [Canadian dollar weakens as U.S. data boosts Fed rate hike prospects - The Globe and Mail](https://feedsoft.ai/events/37578-canadian-dollar-weakens-as-u-s-data-boosts-fed-rate-hike-prospects-the-globe.md) | -6.5% | -14.7% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-falls-the-most-in-3-months-weighed-by-soft-factory/

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