# Canadian dollar steadies as investors cheer Fed’s dovish signal - Markets - Business Recorder

> The Canadian dollar was little changed on Thursday as lower oil prices offset a dovish signal from the US Federal Reserve on the pace of rate hikes. The US dollar fell to a three-month low against major currencies after Fed minutes. Oil was down 0.7% at $77.41 a barrel amid debate over a proposed G7 cap on Russian oil.

- Date: 2022-11-24 · published 2022-11-24T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/38909-canadian-dollar-steadies-as-investors-cheer-fed-s-dovish-signal-markets
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A slower Fed pace weakens the dollar, which tends to support dollar-priced commodities, while the G7 Russian oil cap adds uncertainty to energy supply. The net effect on feed prices is modest.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-12-15 | [Dollar falters as investors challenge Fed’s hawkishnes - Markets - Business Recorder](https://feedsoft.ai/events/38421-dollar-falters-as-investors-challenge-fed-s-hawkishnes-markets-business-recorder.md) | +0.4% | -2.2% |
| DXY | 2020-06-08 | [Gold gains as investors bet on dovish signals from Fed - Markets - Business Recorder](https://feedsoft.ai/events/52529-gold-gains-as-investors-bet-on-dovish-signals-from-fed-markets-business-recorder.md) | +0.7% | +0.4% |
| DXY | 2023-11-30 | [Indian rupee battles persistent dollar demand in face of dovish Fed outlook - Markets - Business Recorder](https://feedsoft.ai/events/33470-indian-rupee-battles-persistent-dollar-demand-in-face-of-dovish-fed-outlook.md) | +0.6% | -1.2% |
| DXY | 2023-11-14 | [Canadian dollar rallies as investors cheer U.S. inflation data](https://feedsoft.ai/events/33408-canadian-dollar-rallies-as-investors-cheer-u-s-inflation-data.md) | -1.8% | -1.4% |
| DXY | 2021-04-30 | [Dollar steadies in Europe - Business & Finance - Business Recorder](https://feedsoft.ai/events/47821-dollar-steadies-in-europe-business-and-finance-business-recorder.md) | +0.1% | -0.8% |
| BRENT | 2022-10-30 | [U.S. Dollar's Recovery Can Be Extended \| Investing.com](https://feedsoft.ai/events/39331-u-s-dollar-s-recovery-can-be-extended-investing-com.md) | +4.0% | -12.3% |
| BRENT | 2022-02-24 | [Indian rupee leads gains among Asian FX - Business & Finance - Business Recorder](https://feedsoft.ai/events/42985-indian-rupee-leads-gains-among-asian-fx-business-and-finance-business-recorder.md) | +18.2% | +27.0% |
| BRENT | 2022-10-17 | [Oil steady as recession woes counter positive Chinese signals](https://feedsoft.ai/events/39285-oil-steady-as-recession-woes-counter-positive-chinese-signals.md) | +0.8% | +4.6% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40210642

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