# Canadian dollar retreats from three-year high as U.S. bond yields soar - The Globe and Mail

> The Canadian dollar weakened 0.7% to 1.2596 per US dollar on Thursday, pulling back from a three-year high, as surging US Treasury yields pressured global equities. US crude settled 0.5% higher at $63.53, its highest close since 2019, as Texas refineries restarted after the freeze.

- Date: 2021-02-25 · published 2021-02-25T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/48889-canadian-dollar-retreats-from-three-year-high-as-u-s-bond-yields-soar-the-globe
- 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 firmer oil price supports Canadian export revenue and the loonie, while a weaker loonie raises the cost of Canadian-origin feed ingredients for US-dollar buyers. The effect on grain and meal prices is limited.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-09-28 | [Canadian dollar retreats from 3-week high as bond yields climb \| Financial Post](https://feedsoft.ai/events/45281-canadian-dollar-retreats-from-3-week-high-as-bond-yields-climb-financial-post.md) | +2.8% | +11.7% |
| WTI | 2022-09-27 | [Surging bond yields spook investors, capping Canadian dollar gains - The Globe and Mail](https://feedsoft.ai/events/39815-surging-bond-yields-spook-investors-capping-canadian-dollar-gains-the-globe-and.md) | +9.0% | +11.1% |
| WTI | 2026-04-29 | [Canadian dollar steadies as oil lifts BoC rate hike bets - The Globe and Mail](https://feedsoft.ai/events/19934-canadian-dollar-steadies-as-oil-lifts-boc-rate-hike-bets-the-globe-and-mail.md) | +2.2% | -10.9% |
| 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 | 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-a-three-year-high-as-canadas-bond-yields-jump/

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