# Canadian dollar holds steady vs U.S. counterpart, beats rest of G10 - The Globe and Mail

> The Canadian dollar was little changed on Thursday, the only G10 currency not to lose ground against the US dollar, as Wall Street recovered from its lows. Oil settled 4.6% lower at $81.64 a barrel as rising COVID cases in China weighed on demand. Canadian bond yields were higher.

- Date: 2022-11-17 · published 2022-11-17T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/38911-canadian-dollar-holds-steady-vs-u-s-counterpart-beats-rest-of-g10-the-globe-and
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Falling oil on weaker China demand expectations lowers energy input costs, though the impact on feed grain prices is limited. The loonie's resilience reflects equity market tracking rather than commodity drivers.

## Read by commodity

- WTI: bearish ▼
- USDCAD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-11-16 | [Canadian dollar retreats from 100-day moving average as inflation holds steady - The Globe and Mail](https://feedsoft.ai/events/38907-canadian-dollar-retreats-from-100-day-moving-average-as-inflation-holds-steady.md) | -6.9% | -11.2% |
| WTI | 2021-08-31 | [Canadian dollar steadies after ‘limited’ reaction to GDP miss - The Globe and Mail](https://feedsoft.ai/events/45789-canadian-dollar-steadies-after-limited-reaction-to-gdp-miss-the-globe-and-mail.md) | -1.2% | +8.9% |
| WTI | 2022-12-07 | [Canadian dollar holds near one-month low as Bank of Canada rate hike boost fades - The Globe and Mail](https://feedsoft.ai/events/38459-canadian-dollar-holds-near-one-month-low-as-bank-of-canada-rate-hike-boost.md) | +0.5% | -0.8% |
| WTI | 2023-04-17 | [Canadian dollar slips, pressured by Fed rate hike bets - The Globe and Mail](https://feedsoft.ai/events/36641-canadian-dollar-slips-pressured-by-fed-rate-hike-bets-the-globe-and-mail.md) | -5.7% | -15.2% |
| WTI | 2023-05-18 | [Canadian dollar falls as BoC’s Macklem resists validating rate hike bets - The Globe and Mail](https://feedsoft.ai/events/36189-canadian-dollar-falls-as-boc-s-macklem-resists-validating-rate-hike-bets-the.md) | +2.1% | -3.0% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-falls-as-uncertain-us-rate-outlook-weighs-on-sentiment/

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