# Canadian dollar hits a 7-week high as yield spreads widen | Financial Post

> The Canadian dollar hit a seven-week high of 1.2530 per US dollar as oil rose and Canadian bond yields widened above US yields. US crude settled 0.8% higher at $119.41 a barrel after the Bank of Canada's second half-point hike.

- Date: 2022-06-07 · published 2022-06-07T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/41183-canadian-dollar-hits-a-7-week-high-as-yield-spreads-widen-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

Higher oil and wider yield spreads support the loonie; the firmer crude price adds cost pressure on feed freight and energy inputs.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-09-28 | [Canadian dollar retreats from 3-week high as bond yields climb \| Financial Post](https://feedsoft.ai/events/45281-canadian-dollar-retreats-from-3-week-high-as-bond-yields-climb-financial-post.md) | +2.8% | +11.7% |
| WTI | 2020-02-12 | [Canadian dollar climbs to one-week high as virus fears ebb \| Financial Post](https://feedsoft.ai/events/54807-canadian-dollar-climbs-to-one-week-high-as-virus-fears-ebb-financial-post.md) | +6.6% | -33.8% |
| WTI | 2018-07-30 | [Canadian dollar climbs to 7-week high on NAFTA optimism, oil rally - Financial Post](https://feedsoft.ai/events/64254-canadian-dollar-climbs-to-7-week-high-on-nafta-optimism-oil-rally-financial-post.md) | -0.3% | +1.0% |
| 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 | 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% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/canadian-dollar-hits-a-7-week-high-as-yield-spreads-widen

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