# C$ turns weaker as dour Bank of Canada offsets oil surge

> The Canadian dollar weakened as the Bank of Canada was described as dour while crude oil settled $1.31 higher at $51.60. Canadian bond prices were mixed and an EU-Canada free trade summit was reportedly being postponed.

- Date: 2021-09-30 · published 2021-09-30T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/45276-c-turns-weaker-as-dour-bank-of-canada-offsets-oil-surge
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker loonie makes Canadian-origin feed inputs cheaper for US buyers, while higher oil supports energy-linked costs; the impact on feed grain prices is limited.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-12-15 | [C$ climbs as market shrugs off Bank of Canada 'jawboning'](https://feedsoft.ai/events/49870-c-climbs-as-market-shrugs-off-bank-of-canada-jawboning.md) | +1.6% | +12.4% |
| WTI | 2022-05-01 | [The perfect storm - Bank of Canada](https://feedsoft.ai/events/41648-the-perfect-storm-bank-of-canada.md) | +4.9% | +9.9% |
| WTI | 2020-10-27 | [Canadian Dollar Buoyed by Firmer Oil Prices, Stock Markets ahead of Bank of Canada Decision](https://feedsoft.ai/events/50859-canadian-dollar-buoyed-by-firmer-oil-prices-stock-markets-ahead-of-bank-of.md) | -4.6% | +11.7% |
| WTI | 2022-12-20 | [Canadian dollar gains as investors weigh Bank of Japan’s policy shift - The Globe and Mail](https://feedsoft.ai/events/38457-canadian-dollar-gains-as-investors-weigh-bank-of-japan-s-policy-shift-the-globe.md) | +5.8% | +7.0% |
| WTI | 2016-12-12 | [Canadian dollar above 76 cents US as oil surges to 1½-year high \| CBC News](https://feedsoft.ai/events/73711-canadian-dollar-above-76-cents-us-as-oil-surges-to-11-2-year-high-cbc-news.md) | +0.8% | -1.3% |

## Sources

- reuters.com: https://www.reuters.com/article/canada-forex-idUSL1N1CP230/?feedName=usDollarRpt&feedType=RSS

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