# C$ rises as October flash economic estimates show gains | Financial Post

> The Canadian dollar rose on Tuesday as risk appetite improved and Canadian October flash estimates showed retail sales rebounding 1.5%. The US dollar fell against major currencies, while oil rose after Saudi Arabia said OPEC+ would keep output cuts and could take further steps. US crude was up 1.5% at $81.21 a barrel.

- Date: 2022-11-22 · published 2022-11-22T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/38910-c-rises-as-october-flash-economic-estimates-show-gains-financial-post
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

OPEC+ signalling continued output cuts supports crude prices, which raises diesel and energy costs for feed logistics. A weaker US dollar can also lift dollar-priced grain demand.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-09-28 | [Oil up 1% on economic hope; virus fears check price gains \| Financial Post](https://feedsoft.ai/events/51280-oil-up-1-on-economic-hope-virus-fears-check-price-gains-financial-post.md) | -7.9% | -0.9% |
| WTI | 2020-12-04 | [Canadian dollar forecasts shift higher as Ottawa pads economic support \| Financial Post](https://feedsoft.ai/events/49872-canadian-dollar-forecasts-shift-higher-as-ottawa-pads-economic-support.md) | +2.5% | +4.1% |
| WTI | 2021-01-19 | [Canadian dollar gains as stimulus hopes boost Wall Street \| Financial Post](https://feedsoft.ai/events/49373-canadian-dollar-gains-as-stimulus-hopes-boost-wall-street-financial-post.md) | +0.9% | +14.9% |
| WTI | 2021-10-26 | [C$ dips as investors guard against 'dovish surprise' from BoC \| Financial Post](https://feedsoft.ai/events/44821-c-dips-as-investors-guard-against-dovish-surprise-from-boc-financial-post.md) | -0.3% | -9.0% |
| WTI | 2021-01-29 | [Canadian dollar rallies as economy grows faster than anticipated \| Financial Post](https://feedsoft.ai/events/49367-canadian-dollar-rallies-as-economy-grows-faster-than-anticipated-financial-post.md) | +7.5% | +17.7% |
| DXY | 2020-09-28 | [Oil up 1% on economic hope; virus fears check price gains \| Financial Post](https://feedsoft.ai/events/51280-oil-up-1-on-economic-hope-virus-fears-check-price-gains-financial-post.md) | -1.0% | -2.2% |
| DXY | 2022-11-15 | [Dollar loses ground after economic data boosts risk appetite \| Financial Post](https://feedsoft.ai/events/7563-dollar-loses-ground-after-economic-data-boosts-risk-appetite-financial-post.md) | +1.0% | -1.3% |
| DXY | 2022-08-31 | [Most Asian FX rises; Thai baht, equities gain on growth view \| Financial Post](https://feedsoft.ai/events/40312-most-asian-fx-rises-thai-baht-equities-gain-on-growth-view-financial-post.md) | +0.9% | +3.6% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/c-rises-as-october-flash-economic-estimates-show-gains

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