# Canadian dollar climbs to 2-week high as FX volatility falls - The Globe and Mail

> The Canadian dollar strengthened to a two-week high as currency volatility fell and investors became more willing to hold commodity-linked currencies. US crude settled 8.4% higher at $102.98 a barrel on renewed supply concerns from sanctions on Russia.

- Date: 2022-03-17 · published 2022-03-17T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/42499-canadian-dollar-climbs-to-2-week-high-as-fx-volatility-falls-the-globe-and-mail
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Improved risk appetite and firmer oil support commodity-currency flows, lowering the loonie-denominated cost of US dollar feed imports.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2022-03-21 | 5 | +16.7% | 3.1 | US crude settled 8.4% higher at $102.98 on March 17 on renewed sanctions-driven supply concerns, a big up-leg early in the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-11-24 | [Canadian dollar climbs to 2-week high as Biden transition boosts Wall Street - The Globe and Mail](https://feedsoft.ai/events/50385-canadian-dollar-climbs-to-2-week-high-as-biden-transition-boosts-wall-street.md) | +3.7% | +9.5% |
| WTI | 2019-11-15 | [Canadian dollar recovers from one-month low as risk appetite climbs - The Globe and Mail](https://feedsoft.ai/events/56315-canadian-dollar-recovers-from-one-month-low-as-risk-appetite-climbs-the-globe.md) | +3.2% | +6.1% |
| WTI | 2023-09-22 | [Rate hike bets lift Canadian dollar to second straight weekly gain - The Globe and Mail](https://feedsoft.ai/events/34334-rate-hike-bets-lift-canadian-dollar-to-second-straight-weekly-gain-the-globe.md) | +2.3% | -0.3% |
| WTI | 2022-01-11 | [Canadian dollar climbs to 2-month high as oil prices jump](https://feedsoft.ai/events/43396-canadian-dollar-climbs-to-2-month-high-as-oil-prices-jump.md) | +9.3% | +14.3% |
| WTI | 2021-12-03 | [Canadian dollar rebounds from 10-week low after jobs surge - The Globe and Mail](https://feedsoft.ai/events/43857-canadian-dollar-rebounds-from-10-week-low-after-jobs-surge-the-globe-and-mail.md) | +6.5% | +13.1% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-notches-two-week-high-as-oil-prices-jump/

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