# Canadian dollar pulls back from 10-day high as investor sentiment sours - The Globe and Mail

> The Canadian dollar weakened against the U.S. dollar on March 27, pulling back from a 10-day high as the coronavirus weighed on global stocks and oil. U.S. crude futures fell 3.5% to $21.81 a barrel. Canada expanded its mortgage securities purchases and its aid package.

- Date: 2020-03-27 · published 2020-03-27T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/54354-canadian-dollar-pulls-back-from-10-day-high-as-investor-sentiment-sours-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

A weaker loonie tracks falling oil prices, which hurts Canadian export income and the outlook for commodity demand. Continued oil weakness keeps pressure on energy-linked currencies and sentiment.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-10-23 | [Canadian dollar pares weekly advance, hindered by ‘fragile’ investor sentiment - The Globe and Mail](https://feedsoft.ai/events/50855-canadian-dollar-pares-weekly-advance-hindered-by-fragile-investor-sentiment-the.md) | -11.1% | +2.7% |
| 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% |
| 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 | 2026-07-30 | [Canadian dollar rises to six-week high as greenback slides - The Globe and Mail](https://feedsoft.ai/events/18588-canadian-dollar-rises-to-six-week-high-as-greenback-slides-the-globe-and-mail.md) | -10.1% | +2.3% |
| WTI | 2020-11-05 | [Canadian dollar climbs to two-month high as greenback slides - The Globe and Mail](https://feedsoft.ai/events/50389-canadian-dollar-climbs-to-two-month-high-as-greenback-slides-the-globe-and-mail.md) | +5.8% | +17.0% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-pulls-back-from-10-day-high-as-investor-sentiment/

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