# Canadian dollar hits 1-month high ahead of inflation data

> The Canadian dollar hit a one-month high against the US dollar on Monday, trading 0.3% higher at 1.3488 ahead of August inflation data. US crude futures settled 0.8% higher at $91.48, a 10-month high, as global growth optimism improved.

- Date: 2023-09-18 · published 2023-09-18T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/34337-canadian-dollar-hits-1-month-high-ahead-of-inflation-data
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Rising crude and risk sentiment support the loonie, while expectations for hotter Canadian inflation could keep the Bank of Canada tightening, affecting the currency's pricing of Canadian exports.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-05-12 | [Canadian dollar notches 6-year high as U.S. inflation jumps](https://feedsoft.ai/events/47331-canadian-dollar-notches-6-year-high-as-u-s-inflation-jumps.md) | +0.3% | +7.1% |
| WTI | 2022-08-11 | [Canadian dollar rises to two-month high on growing signs of easing U.S. inflation  - The Globe and Mail](https://feedsoft.ai/events/40280-canadian-dollar-rises-to-two-month-high-on-growing-signs-of-easing-u-s.md) | -4.1% | -10.5% |
| WTI | 2021-08-18 | [Canadian dollar rallies after hotter-than-expected inflation data](https://feedsoft.ai/events/45794-canadian-dollar-rallies-after-hotter-than-expected-inflation-data.md) | +1.5% | +9.1% |
| WTI | 2022-01-11 | [Canadian dollar climbs to 2-month high as oil prices jump](https://feedsoft.ai/events/43396-canadian-dollar-climbs-to-2-month-high-as-oil-prices-jump.md) | +9.3% | +14.3% |
| WTI | 2024-08-26 | [Canadian dollar strengthens to 5-month high as oil rallies](https://feedsoft.ai/events/29033-canadian-dollar-strengthens-to-5-month-high-as-oil-rallies.md) | -1.7% | -5.9% |

## Sources

- ca.finance.yahoo.com: https://ca.finance.yahoo.com/news/canada-fx-debt-canadian-dollar-130709368.html

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