# USD/CAD climbs to daily highs above 1.4150 as WTI extends slide below $20 - Forex Crunch

> USD/CAD rose to a daily high of 1.4185 on March 30 as WTI crude fell 11% to $19.45, its lowest in nine years, and was on track for a 57% monthly drop. Saudi Arabia said it planned to raise crude exports by about 600,000 barrels per day from May. The U.S. Dollar Index rose above 99, and the Dallas Fed manufacturing index plunged to -70.

- Date: 2020-03-30 · published 2020-03-30T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/54357-usd-cad-climbs-to-daily-highs-above-1-4150-as-wti-extends-slide-below-20-forex
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Saudi plans to add supply into a market already hit by collapsing demand, which points to further downward pressure on crude. Lower oil weighs on energy-linked currencies and the cost of fuel-related inputs.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-07-30 | [USD/CAD jumps to weekly highs above 1.3450 on oil selloff — Octa](https://feedsoft.ai/events/52353-usd-cad-jumps-to-weekly-highs-above-1-3450-on-oil-selloff-octa.md) | +2.6% | +5.1% |
| WTI | 2022-09-21 | [WTI Falls as USD Spikes to 20-Year High after Fed Rate Hike](https://feedsoft.ai/events/39497-wti-falls-as-usd-spikes-to-20-year-high-after-fed-rate-hike.md) | -6.9% | -1.7% |
| 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% |
| WTI | 2022-11-18 | [Canadian dollar extends weekly decline as oil prices slide \| Financial Post](https://feedsoft.ai/events/38908-canadian-dollar-extends-weekly-decline-as-oil-prices-slide-financial-post.md) | -6.5% | -9.1% |
| WTI | 2020-04-24 | [AUD/USD: Energy price rout threatens the Aussie stability - Westpac - Forex Crunch](https://feedsoft.ai/events/53894-aud-usd-energy-price-rout-threatens-the-aussie-stability-westpac-forex-crunch.md) | +23.0% | +120.1% |
| DXY | 2021-02-26 | [EUR/USD set to end the week on a sour note, drops sharply back below 1.2100 - Forex Crunch](https://feedsoft.ai/events/9591-eur-usd-set-to-end-the-week-on-a-sour-note-drops-sharply-back-below-1-2100.md) | +0.7% | +1.9% |
| DXY | 2017-06-15 | [USD extends gains across the board after the data and - Forex Crunch](https://feedsoft.ai/events/10198-usd-extends-gains-across-the-board-after-the-data-and-forex-crunch.md) | +1.1% | -0.5% |
| DXY | 2021-03-04 | [EUR/USD drops under 1.2000 as Powell send US bond yields flying - Forex Crunch](https://feedsoft.ai/events/11416-eur-usd-drops-under-1-2000-as-powell-send-us-bond-yields-flying-forex-crunch.md) | +0.7% | +0.9% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/03/30/usd-cad-climbs-to-daily-highs-above-1-4150-as-wti-extends-slide-below-20/

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