# Canadian dollar pulls back from two-week high as oil falls - The Globe and Mail

> The Canadian dollar pulled back from a two-week high as crude oil fell nearly 1% to about $76 a barrel. Canadian wholesale trade data for October also showed a decline of about 1.1%.

- Date: 2023-11-23 · published 2023-11-23T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/33402-canadian-dollar-pulls-back-from-two-week-high-as-oil-falls-the-globe-and-mail
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Lower oil prices reduce the value of Canada's energy exports and weigh on the loonie, while softer wholesale trade signals weaker domestic demand. Both factors matter for currency-linked input costs in feed markets.

## Read by commodity

- WTI: bearish ▼
- USDCAD: neutral

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-pulls-back-from-two-week-high-as-oil-falls/

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