# Canadian dollar dips as investors wait for cheaper buying level | Financial Post

> The Canadian dollar edged lower against the U.S. dollar on September 29 as oil prices fell and investors waited for a cheaper entry point. The loonie traded near 1.3381 per U.S. dollar, close to a 7-week low, and had fallen about 2.5% in September. U.S. crude settled 3.2% lower at $39.29 a barrel on fuel demand worries tied to new coronavirus infections.

- Date: 2020-09-29 · published 2020-09-29T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/51346-canadian-dollar-dips-as-investors-wait-for-cheaper-buying-level-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 makes Canadian exports cheaper in U.S. dollar terms, which can support Canadian canola and other commodity demand. Lower crude also reduces energy-linked input costs for feed and fuel.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/canadian-dollar-dips-as-investors-wait-for-cheaper-buying-level

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