# Canadian dollar pares weekly advance, hindered by ‘fragile’ investor sentiment - The Globe and Mail

> The Canadian dollar edged lower against the U.S. dollar on Friday, giving back some of the week's gains as oil prices fell and investors weighed the U.S. coronavirus relief package. U.S. crude settled 1.6% lower at $41.77 a barrel.

- Date: 2020-10-23 · published 2020-10-23T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/50855-canadian-dollar-pares-weekly-advance-hindered-by-fragile-investor-sentiment-the
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Currency moves tied to oil and risk sentiment shift the relative cost of Canadian and US exports, but the effect on feed commodity prices is modest.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-03-27 | [Canadian dollar pulls back from 10-day high as investor sentiment sours - The Globe and Mail](https://feedsoft.ai/events/54354-canadian-dollar-pulls-back-from-10-day-high-as-investor-sentiment-sours-the.md) | +37.1% | -32.8% |
| WTI | 2018-10-23 | [Canadian dollar shakes off plunge in oil as investors brace for BoC rate hike - The Globe and Mail](https://feedsoft.ai/events/62779-canadian-dollar-shakes-off-plunge-in-oil-as-investors-brace-for-boc-rate-hike.md) | -3.2% | -17.6% |
| WTI | 2023-04-17 | [Canadian dollar slips, pressured by Fed rate hike bets - The Globe and Mail](https://feedsoft.ai/events/36641-canadian-dollar-slips-pressured-by-fed-rate-hike-bets-the-globe-and-mail.md) | -5.7% | -15.2% |
| WTI | 2023-05-31 | [Canadian dollar pares monthly decline as rate hike bets climb - The Globe and Mail](https://feedsoft.ai/events/36178-canadian-dollar-pares-monthly-decline-as-rate-hike-bets-climb-the-globe-and-mail.md) | +3.3% | +0.1% |
| WTI | 2022-06-16 | [Canadian dollar falls as global central bank tightening spooks investors - The Globe and Mail](https://feedsoft.ai/events/41175-canadian-dollar-falls-as-global-central-bank-tightening-spooks-investors-the.md) | -8.7% | -14.2% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-extends-weekly-advance-as-flash-economic-indicators/

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