# Canadian dollar weakens as Fed inflation view boosts greenback - The Globe and Mail

> The Canadian dollar weakened against the greenback as oil fell and the Federal Reserve tempered expectations for a rate cut this year. Canadian auto sales dropped 3.5% in April and factory activity contracted for the first time in over three years. U.S. crude inventories rose to their highest since September 2017.

- Date: 2019-05-01 · published 2019-05-01T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/59324-canadian-dollar-weakens-as-fed-inflation-view-boosts-greenback-the-globe-and
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower oil prices and a firmer U.S. dollar reduce the value of Canadian exports and add pressure on energy-linked costs for feed and transport.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-02-15 | [Canadian dollar weakens as U.S. data boosts Fed rate hike prospects - The Globe and Mail](https://feedsoft.ai/events/37578-canadian-dollar-weakens-as-u-s-data-boosts-fed-rate-hike-prospects-the-globe.md) | -6.5% | -14.7% |
| WTI | 2024-01-31 | [Canadian dollar weakens as Fed rate signal offsets GDP gain - The Globe and Mail](https://feedsoft.ai/events/32333-canadian-dollar-weakens-as-fed-rate-signal-offsets-gdp-gain-the-globe-and-mail.md) | -6.0% | +1.3% |
| WTI | 2019-04-26 | [Canadian dollar rises as U.S. growth composition weighs on greenback - The Globe and Mail](https://feedsoft.ai/events/59816-canadian-dollar-rises-as-u-s-growth-composition-weighs-on-greenback-the-globe.md) | -5.3% | -11.5% |
| 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-retreats-from-eight-day-high-ahead-of-fomc-decision/

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