# Canadian dollar dips with oil but stays in reach of 2½-month high - The Globe and Mail

> The Canadian dollar edged lower against the US dollar on Thursday as oil fell after a surprise rise in US crude stocks, with US crude down 0.6% at $32.61 a barrel. Statistics Canada reported the current account deficit widened to $11.1 billion in the first quarter. The loonie stayed near a 2.5-month high.

- Date: 2020-05-28 · published 2020-05-28T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/53357-canadian-dollar-dips-with-oil-but-stays-in-reach-of-21-2-month-high-the-globe
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Oil is one of Canada's major exports, so weaker crude feeds through to the loonie, but this is a currency move with little direct effect on feed commodity prices.

## Read by commodity

- WTI: bearish ▼
- USDCAD: neutral

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-dips-with-oil-but-stays-in-reach-of-2-month-high/

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