# Canadian dollar rises to two-month high on growing signs of easing U.S. inflation  - The Globe and Mail

> The Canadian dollar rose to its highest level in over two months against a weaker US dollar on Thursday as oil settled 2.6% higher at $94.34 a barrel. Investors grew more optimistic about global growth after a strong US jobs report and signs of peaking US inflation.

- Date: 2022-08-11 · published 2022-08-11T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/40280-canadian-dollar-rises-to-two-month-high-on-growing-signs-of-easing-u-s
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Higher oil and a firmer loonie reflect improved risk sentiment, but the effect on feed grain prices is indirect. Expectations of smaller Fed hikes weigh on the dollar, which can support commodity demand.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-12-16 | [Canadian dollar rallies as more central banks move on inflation - The Globe and Mail](https://feedsoft.ai/events/43854-canadian-dollar-rallies-as-more-central-banks-move-on-inflation-the-globe-and.md) | +2.7% | +15.7% |
| WTI | 2023-09-18 | [Canadian dollar hits 1-month high ahead of inflation data](https://feedsoft.ai/events/34337-canadian-dollar-hits-1-month-high-ahead-of-inflation-data.md) | -0.9% | -3.5% |
| WTI | 2022-02-17 | [Why oil and the Canadian dollar are breaking up - The Globe and Mail](https://feedsoft.ai/events/42921-why-oil-and-the-canadian-dollar-are-breaking-up-the-globe-and-mail.md) | -1.1% | +9.8% |
| WTI | 2022-03-17 | [Canadian dollar climbs to 2-week high as FX volatility falls - The Globe and Mail](https://feedsoft.ai/events/42499-canadian-dollar-climbs-to-2-week-high-as-fx-volatility-falls-the-globe-and-mail.md) | +21.1% | +9.8% |
| WTI | 2021-02-25 | [Canadian dollar retreats from three-year high as U.S. bond yields soar - The Globe and Mail](https://feedsoft.ai/events/48889-canadian-dollar-retreats-from-three-year-high-as-u-s-bond-yields-soar-the-globe.md) | -3.0% | -3.3% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-rises-to-two-month-high-on-growing-signs-of-easing-us/

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