# Canadian dollar retreats from four-month high ahead of CPI data

> The Canadian dollar eased from a four-month high ahead of Canada's CPI release, while oil settled 1.5% higher at $72.47 a barrel after Houthi attacks disrupted Red Sea shipping. Markets awaited inflation data expected to show a slowdown to 2.9%.

- Date: 2023-12-18 · published 2023-12-18T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/32945-canadian-dollar-retreats-from-four-month-high-ahead-of-cpi-data
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Red Sea disruption raises shipping and energy costs, supporting oil and freight prices that feed into feed ingredient landed costs.

## Read by commodity

- WTI: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-12-22 | [Canadian dollar rises ahead of GDP data as oil prices climb \| Reuters](https://feedsoft.ai/events/21735-canadian-dollar-rises-ahead-of-gdp-data-as-oil-prices-climb-reuters.md) | +2.1% | +6.5% |
| WTI | 2022-02-24 | [Canadian dollar hits two-month low as Russia invades Ukraine - The Globe and Mail](https://feedsoft.ai/events/42918-canadian-dollar-hits-two-month-low-as-russia-invades-ukraine-the-globe-and-mail.md) | +20.2% | +24.7% |
| WTI | 2026-04-30 | [Oil retreats after hitting four-year high on concern of US-Iran war escalation \| Reuters](https://feedsoft.ai/events/19881-oil-retreats-after-hitting-four-year-high-on-concern-of-us-iran-war-escalation.md) | -10.8% | -16.4% |
| WTI | 2026-01-27 | [Crude Prices Jump to a 3-Month High on Dollar Weakness and Iran Risks](https://feedsoft.ai/events/21231-crude-prices-jump-to-a-3-month-high-on-dollar-weakness-and-iran-risks.md) | +2.1% | +8.4% |
| WTI | 2026-04-29 | [Canadian Dollar consolidates vs USD as BoC, FOMC decisions loom](https://feedsoft.ai/events/19939-canadian-dollar-consolidates-vs-usd-as-boc-fomc-decisions-loom.md) | +2.2% | -10.9% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-retreats-from-four-month-high-ahead-of-cpi-data/

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