# Canadian dollar retreats from 7-week high as oil prices fall - Markets - Business Recorder

> The Canadian dollar weakened against the USD on Tuesday as oil and gold prices fell, retreating from a near seven-week high. Traders awaited a two-day Fed meeting that could confirm an average inflation target.

- Date: 2020-07-28 · published 2020-07-28T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/52354-canadian-dollar-retreats-from-7-week-high-as-oil-prices-fall-markets-business
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Lower oil and a firmer dollar weigh on energy-linked commodity sentiment, while the Fed's stance shapes broader dollar-denominated commodity prices.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40008358

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