# Canadian dollar retreats from 3-week high as bond yields climb | Financial Post

> The Canadian dollar weakened against the greenback as higher US bond yields offset gains in oil prices. Oil rose for a sixth day, while the Fed signalled it may start reducing bond purchases as soon as November.

- Date: 2021-09-28 · published 2021-09-28T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/45281-canadian-dollar-retreats-from-3-week-high-as-bond-yields-climb-financial-post
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A firmer US dollar and higher yields tend to pressure dollar-priced commodities, while oil strength supports energy-linked costs.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-05-13 | [Soybeans retreat from 8-1/2-year high as dollar holds gains \| Financial Post](https://feedsoft.ai/events/12368-soybeans-retreat-from-8-1-2-year-high-as-dollar-holds-gains-financial-post.md) | -0.6% | -0.9% |
| DXY | 2022-01-26 | [Canadian dollar weakens as BoC foregoes rate hike \| Financial Post](https://feedsoft.ai/events/43390-canadian-dollar-weakens-as-boc-foregoes-rate-hike-financial-post.md) | +0.2% | -0.4% |
| DXY | 2020-09-17 | [Dollar edges higher as Fed outlook lifts U.S. yields \| Financial Post](https://feedsoft.ai/events/7697-dollar-edges-higher-as-fed-outlook-lifts-u-s-yields-financial-post.md) | +1.6% | +0.6% |
| DXY | 2023-04-19 | [Dollar firms as U.S. yields rise, high British inflation underpins pound \| Financial Post](https://feedsoft.ai/events/36664-dollar-firms-as-u-s-yields-rise-high-british-inflation-underpins-pound.md) | +0.4% | +0.1% |
| DXY | 2022-04-29 | [Canadian dollar hits 7-week low - Business & Finance - Business Recorder](https://feedsoft.ai/events/42107-canadian-dollar-hits-7-week-low-business-and-finance-business-recorder.md) | -0.1% | -1.1% |
| WTI | 2022-06-07 | [Canadian dollar hits a 7-week high as yield spreads widen \| Financial Post](https://feedsoft.ai/events/41183-canadian-dollar-hits-a-7-week-high-as-yield-spreads-widen-financial-post.md) | +2.1% | -15.8% |
| WTI | 2020-02-12 | [Canadian dollar climbs to one-week high as virus fears ebb \| Financial Post](https://feedsoft.ai/events/54807-canadian-dollar-climbs-to-one-week-high-as-virus-fears-ebb-financial-post.md) | +6.6% | -33.8% |
| WTI | 2021-02-25 | [Canadian dollar retreats from three-year high as U.S. bond yields soar - The Globe and Mail](https://feedsoft.ai/events/48889-canadian-dollar-retreats-from-three-year-high-as-u-s-bond-yields-soar-the-globe.md) | -3.0% | -3.3% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/canadian-dollar-retreats-from-3-week-high-as-bond-yields-climb

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