# C$ dips as investors guard against 'dovish surprise' from BoC | Financial Post

> The Canadian dollar edged lower on Tuesday as investors worried the Bank of Canada might temper expectations for earlier rate hikes. The loonie traded 0.1% lower at 1.2388, after touching its strongest level in nearly four months a week earlier. U.S. crude futures rose 1.1% to $84.65 a barrel, their highest since 2014.

- Date: 2021-10-26 · published 2021-10-26T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/44821-c-dips-as-investors-guard-against-dovish-surprise-from-boc-financial-post
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Concern about a dovish Bank of Canada surprise weighed on the loonie ahead of the policy decision. Higher oil prices from supply shortages and U.S. demand supported the Canadian dollar, which tracks crude closely.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 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% |
| WTI | 2022-11-22 | [C$ rises as October flash economic estimates show gains \| Financial Post](https://feedsoft.ai/events/38910-c-rises-as-october-flash-economic-estimates-show-gains-financial-post.md) | -2.1% | -4.7% |
| WTI | 2021-01-19 | [Canadian dollar gains as stimulus hopes boost Wall Street \| Financial Post](https://feedsoft.ai/events/49373-canadian-dollar-gains-as-stimulus-hopes-boost-wall-street-financial-post.md) | +0.9% | +14.9% |
| WTI | 2022-08-10 | [C$ notches up 6-day high as U.S. inflation pressures ease \| Financial Post](https://feedsoft.ai/events/40282-c-notches-up-6-day-high-as-u-s-inflation-pressures-ease-financial-post.md) | -4.3% | -10.8% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/c-dips-as-investors-guard-against-dovish-surprise-from-boc

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