# USD/CAD retreats from two-month high amid weaker USD, Canadian GDP in focus: Analytics and Market news from 30 November 2021 12:04

> USD/CAD rose to its highest level since September 22 as crude oil fell further on concerns about a possibly vaccine-resistant COVID variant. Lower U.S. bond yields and a weaker dollar limited the gains, with Canadian GDP and Powell's testimony in focus.

- Date: 2021-11-30 · published 2021-11-30T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/44265-usd-cad-retreats-from-two-month-high-amid-weaker-usd-canadian-gdp-in-focus
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A sharp drop in oil prices on demand worries weakens the commodity-linked loonie. Markets also pared expected Fed tightening, which affects the dollar and currency-hedged commodity pricing.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-08-31 | [USD/CAD rebounds from two-week lows, retakes 1.2600 mark post-Canadian GDP — Octa](https://feedsoft.ai/events/45792-usd-cad-rebounds-from-two-week-lows-retakes-1-2600-mark-post-canadian-gdp-octa.md) | -1.2% | +8.9% |
| WTI | 2023-02-02 | [CANADA FX DEBT-C$ retreats from 2-1/2 month high as U.S. jobs data looms \| Kitco News](https://feedsoft.ai/events/37581-canada-fx-debt-c-retreats-from-2-1-2-month-high-as-u-s-jobs-data-looms-kitco.md) | +2.8% | +2.3% |
| WTI | 2021-11-30 | [Afternoon Market Recap for November 30, 2021 - HighLine Grain Growers, Inc](https://feedsoft.ai/events/11598-afternoon-market-recap-for-november-30-2021-highline-grain-growers-inc.md) | -0.5% | +8.7% |
| WTI | 2021-08-31 | [USD/CAD hangs near two-week lows, below 1.2600 mark ahead of Canadian GDP — Octa](https://feedsoft.ai/events/45795-usd-cad-hangs-near-two-week-lows-below-1-2600-mark-ahead-of-canadian-gdp-octa.md) | -1.2% | +8.9% |
| WTI | 2022-11-16 | [Canadian dollar retreats from 100-day moving average as inflation holds steady - The Globe and Mail](https://feedsoft.ai/events/38907-canadian-dollar-retreats-from-100-day-moving-average-as-inflation-holds-steady.md) | -6.9% | -11.2% |
| DXY | 2020-12-04 | [USD: An important week for the dollar bear trend - ING: Analytics and Market news from 4 December 2020 12:07](https://feedsoft.ai/events/49847-usd-an-important-week-for-the-dollar-bear-trend-ing-analytics-and-market-news.md) | -0.0% | -1.0% |
| DXY | 2022-10-04 | [EUR/USD keeps rising amid a weaker USD, approaches parity: Analytics and Market news from 4 October 2022 16:02](https://feedsoft.ai/events/9330-eur-usd-keeps-rising-amid-a-weaker-usd-approaches-parity-analytics-and-market.md) | +0.5% | +0.2% |
| DXY | 2020-08-31 | [USD: Bear trend under way - ING: Analytics and Market news from 31 August 2020 11:38](https://feedsoft.ai/events/51793-usd-bear-trend-under-way-ing-analytics-and-market-news-from-31-august-2020-11-38.md) | +0.1% | +1.4% |

## Sources

- teletrade.org: https://www.teletrade.org/analytics/market-analysis/market-news/3707691

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