# Canadian dollar nears a three-week high as energy vies with housing. What's next

> The Canadian dollar neared a three-week high as energy prices and positive risk appetite lifted the loonie. US natural gas reached $9.30 per MMBtu, its highest since 2008, and US inventories rose 80 bcf against 89 bcf expected.

- Date: 2022-05-26 · published 2022-05-26T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/41657-canadian-dollar-nears-a-three-week-high-as-energy-vies-with-housing-what-s-next
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Tight US natural gas supply raises energy costs for grain drying and processing, and supports energy-linked currency flows. Housing weakness in Canada is cited as the main near-term headwind for the loonie.

## Read by commodity

- NATGAS: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-07-23 | [Natural gas price nears three-year high as summer heat strains supply](https://feedsoft.ai/events/46254-natural-gas-price-nears-three-year-high-as-summer-heat-strains-supply.md) | +0.8% | -4.5% |
| NATGAS | 2021-10-01 | [Asian prices surge to record high this week as winter starts](https://feedsoft.ai/events/44765-asian-prices-surge-to-record-high-this-week-as-winter-starts.md) | -0.5% | +0.2% |
| NATGAS | 2021-09-23 | [Inside Clean Energy: Natural Gas Prices Are Rising. Here’s Why That Helps the Cleanest (and Dirtiest) Electricity Sources - Inside Climate News](https://feedsoft.ai/events/7930-inside-clean-energy-natural-gas-prices-are-rising-here-s-why-that-helps-the.md) | +15.2% | +3.2% |
| NATGAS | 2021-10-21 | [Surging Energy Prices May Not Ease Until Next Year](https://feedsoft.ai/events/11752-surging-energy-prices-may-not-ease-until-next-year.md) | +20.7% | -4.0% |
| NATGAS | 2018-04-10 | [High U.S. Natgas Storage Draws Raise Alarm for Coming Seasons - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/65695-high-u-s-natgas-storage-draws-raise-alarm-for-coming-seasons-energy-news-top.md) | +2.9% | +0.2% |

## Sources

- investinglive.com: https://investinglive.com/news/canadian-dollar-nears-a-three-week-high-as-energy-vies-with-housing-whats-next-20220526/

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