# Canadian dollar extends weekly decline as oil prices slide | Financial Post

> The Canadian dollar fell on Friday, adding to a weekly decline as oil prices dropped. Foreign investors sold a net C$22.3 billion of Canadian securities in September, the largest divestment since 2018. Canadian producer prices rose 2.4% in October, and US crude fell 3.7% to $78.62 a barrel.

- Date: 2022-11-18 · published 2022-11-18T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/38908-canadian-dollar-extends-weekly-decline-as-oil-prices-slide-financial-post
- 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 on weaker China demand and Fed rate-hike expectations pressure energy costs, which feed into transport and fuel expenses for feed producers. Currency weakness mainly reflects capital flows and energy prices.

## Read by commodity

- WTI: bearish ▼
- USDCAD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-10-21 | [Canadian dollar falls by most in three weeks as oil stumbles \| Financial Post](https://feedsoft.ai/events/44823-canadian-dollar-falls-by-most-in-three-weeks-as-oil-stumbles-financial-post.md) | -1.9% | -7.0% |
| WTI | 2020-06-11 | [Canadian dollar slides as investor risk appetite wanes \| Financial Post](https://feedsoft.ai/events/52864-canadian-dollar-slides-as-investor-risk-appetite-wanes-financial-post.md) | -4.1% | +0.2% |
| WTI | 2020-01-24 | [Canadian dollar slips as oil prices fall on China virus scare](https://feedsoft.ai/events/55301-canadian-dollar-slips-as-oil-prices-fall-on-china-virus-scare.md) | -6.1% | -3.9% |
| WTI | 2018-05-31 | [Oil Price Slides, Canadian Dollar Exchange Rates Side With It \| Exchange Rates UK](https://feedsoft.ai/events/65244-oil-price-slides-canadian-dollar-exchange-rates-side-with-it-exchange-rates-uk.md) | -5.1% | +11.1% |
| WTI | 2023-05-30 | [Canadian dollar dips as oil prices fall more than 4%](https://feedsoft.ai/events/36186-canadian-dollar-dips-as-oil-prices-fall-more-than-4.md) | -0.4% | -6.6% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/canadian-dollar-extends-weekly-decline-as-oil-prices-slide

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