# Canadian dollar hits 10-day low as virus clips global outlook | Financial Post

> The Canadian dollar weakened by the most in nearly five weeks against the U.S. dollar as global growth worries grew amid rising coronavirus cases. Oil settled 3.2% lower at $38.56 a barrel and the safe-haven U.S. dollar rose against major currencies.

- Date: 2020-10-26 · published 2020-10-26T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/50854-canadian-dollar-hits-10-day-low-as-virus-clips-global-outlook-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

A weaker loonie and lower oil prices reduce the value of Canadian exports and reflect softer demand expectations, a mild negative for energy-linked commodity sentiment.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-02-03 | [Canadian dollar slides to two-month low as China virus hits oil demand - The Globe and Mail](https://feedsoft.ai/events/54810-canadian-dollar-slides-to-two-month-low-as-china-virus-hits-oil-demand-the.md) | -2.4% | -9.3% |
| WTI | 2022-10-31 | [Canadian dollar slips to six-day low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/39347-canadian-dollar-slips-to-six-day-low-as-oil-prices-fall-the-globe-and-mail.md) | +5.4% | -12.2% |
| WTI | 2020-12-21 | [Canadian dollar falls by most since October as new virus strain clouds outlook - The Globe and Mail](https://feedsoft.ai/events/49869-canadian-dollar-falls-by-most-since-october-as-new-virus-strain-clouds-outlook.md) | -3.1% | +8.4% |
| WTI | 2022-11-18 | [Canadian dollar extends weekly decline as oil prices slide \| Financial Post](https://feedsoft.ai/events/38908-canadian-dollar-extends-weekly-decline-as-oil-prices-slide-financial-post.md) | -6.5% | -9.1% |
| WTI | 2021-07-27 | [Canadian dollar falls as China stock sell-off spooks investors \| Financial Post](https://feedsoft.ai/events/46272-canadian-dollar-falls-as-china-stock-sell-off-spooks-investors-financial-post.md) | -1.1% | -8.9% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/canadian-dollar-hits-10-day-low-as-virus-clips-global-outlook

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