# Canadian dollar nears seven-week low as oil prices fall - The Globe and Mail

> The Canadian dollar weakened toward a seven-week low as U.S. crude futures fell 0.7% to $53.12 a barrel. Investors were also awaiting a Federal Reserve rate decision that was not expected to change rates.

- Date: 2020-01-29 · published 2020-01-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/55300-canadian-dollar-nears-seven-week-low-as-oil-prices-fall-the-globe-and-mail
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Weaker oil on virus-driven demand fears pressures Canadian dollar and energy-linked trade, with limited direct effect on feed commodities.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-10-31 | [Canadian dollar slips to six-day low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/39347-canadian-dollar-slips-to-six-day-low-as-oil-prices-fall-the-globe-and-mail.md) | +5.4% | -12.2% |
| WTI | 2026-07-27 | [Canadian dollar hits near two-week low as oil prices drop \| Reuters](https://feedsoft.ai/events/18591-canadian-dollar-hits-near-two-week-low-as-oil-prices-drop-reuters.md) | -3.3% | -2.6% |
| WTI | 2021-12-15 | [Canadian dollar at nearly 3-month low as oil prices fall \| Reuters](https://feedsoft.ai/events/43853-canadian-dollar-at-nearly-3-month-low-as-oil-prices-fall-reuters.md) | +0.7% | +16.9% |
| WTI | 2024-07-26 | [Canadian dollar posts longest losing streak in six years as oil falls - The Globe and Mail](https://feedsoft.ai/events/29504-canadian-dollar-posts-longest-losing-streak-in-six-years-as-oil-falls-the-globe.md) | -2.3% | -7.0% |
| WTI | 2018-04-24 | [Canadian dollar steadies near three-week low as U.S. 10-year yield hits 3 per cent - The Globe and Mail](https://feedsoft.ai/events/65742-canadian-dollar-steadies-near-three-week-low-as-u-s-10-year-yield-hits-3-per.md) | +0.9% | +6.3% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-nears-seven-week-low-as-oil-prices-fall/

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