# C$ notches up 6-day high as U.S. inflation pressures ease | Financial Post

> The Canadian dollar hit its highest level in nearly a week after US consumer prices rose at a slower-than-expected pace in July. Oil recovered its earlier decline as traders expected less aggressive Fed tightening, while Druzhba pipeline flows were expected to resume.

- Date: 2022-08-10 · published 2022-08-10T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/40282-c-notches-up-6-day-high-as-u-s-inflation-pressures-ease-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 US inflation eases pressure on the Fed and supports a weaker dollar, a modest tailwind for commodity prices. Resumed Druzhba flows would ease crude supply concerns for Europe.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-05-12 | [Canadian dollar notches 6-year high as U.S. inflation jumps](https://feedsoft.ai/events/47331-canadian-dollar-notches-6-year-high-as-u-s-inflation-jumps.md) | +0.3% | +7.1% |
| WTI | 2020-12-02 | [Canadian dollar notches a 2-year high on higher oil prices \| Financial Post](https://feedsoft.ai/events/49875-canadian-dollar-notches-a-2-year-high-on-higher-oil-prices-financial-post.md) | +2.4% | +8.4% |
| WTI | 2023-05-26 | [C$ posts weekly decline as investors eye higher U.S. rates \| Financial Post](https://feedsoft.ai/events/36184-c-posts-weekly-decline-as-investors-eye-higher-u-s-rates-financial-post.md) | +0.0% | -3.6% |
| WTI | 2018-04-30 | [Will oil prices be the trigger that wakes the inflation beast? - Financial Post](https://feedsoft.ai/events/65433-will-oil-prices-be-the-trigger-that-wakes-the-inflation-beast-financial-post.md) | +2.4% | -0.3% |
| WTI | 2022-05-25 | [Canadian dollar hits 6-day low as investors await Fed minutes \| Financial Post](https://feedsoft.ai/events/41649-canadian-dollar-hits-6-day-low-as-investors-await-fed-minutes-financial-post.md) | +3.3% | -5.7% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/c-notches-up-6-day-high-as-u-s-inflation-pressures-ease

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