# Canadian dollar ends week lower as economic threat from CN strike builds - The Globe and Mail

> The Canadian dollar ended the week slightly lower as oil prices pulled back from two-month highs and a strike at Canadian National Railway entered its fourth day. U.S. crude settled 81 cents lower at $57.77 a barrel. TD Bank estimated the strike could cut fourth-quarter annualized growth by about 0.2 percentage points if it lasted two more weeks.

- Date: 2019-11-22 · published 2019-11-22T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/56304-canadian-dollar-ends-week-lower-as-economic-threat-from-cn-strike-builds-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

The CN Rail strike disrupts grain and oilseed shipments through Canadian ports, which can tighten export logistics and widen basis. Lower oil prices weigh on the loonie and reflect softer energy demand.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-01-29 | [Canadian dollar nears seven-week low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/55300-canadian-dollar-nears-seven-week-low-as-oil-prices-fall-the-globe-and-mail.md) | -7.1% | -8.8% |
| WTI | 2020-12-01 | [Canadian dollar strengthens as economy grows at a record pace - The Globe and Mail](https://feedsoft.ai/events/49874-canadian-dollar-strengthens-as-economy-grows-at-a-record-pace-the-globe-and-mail.md) | +1.1% | +5.9% |
| WTI | 2018-11-08 | [Canadian dollar hits eight-week low as U.S. Fed affirms rate hike policy - The Globe and Mail](https://feedsoft.ai/events/62276-canadian-dollar-hits-eight-week-low-as-u-s-fed-affirms-rate-hike-policy-the.md) | -8.9% | -16.5% |
| 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% |
| WTI | 2018-12-31 | [Canadian dollar ends 2018 with worst year since 2015 - The Globe and Mail](https://feedsoft.ai/events/61777-canadian-dollar-ends-2018-with-worst-year-since-2015-the-globe-and-mail.md) | +7.0% | +14.7% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-pares-weekly-decline-lifted-by-domestic-data/

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