# Loonie falls on oil extends losses

> The Canadian dollar fell as West Texas Intermediate dropped 3.1% to $57.30 and Brent fell 2.1% to $68.60 amid escalating trade war fears. Analysts expect new trade fronts to open with Japan or the EU, and Trump said there was no preparation for a China trade deal.

- Date: 2019-05-29 · published 2019-05-29T12:00:00.000Z
- Category: trade · region Global · magnitude medium
- Page: https://feedsoft.ai/events/59326-loonie-falls-on-oil-extends-losses
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Falling crude prices and trade-war escalation reduce demand expectations for energy and commodity exports, weighing on the Canadian dollar and related commodity values.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2019-05-30 | 1 | -4.5% | -4.2 | Reports WTI down 3.1% to $57.30 amid escalating trade war fears, with Trump saying no preparation for a China deal, matching the move's sentiment driver. |
| BRENT | 2019-06-03 | 5 | -10.4% | -2.9 | On May 29 Brent fell 2.1% and WTI 3.1% on escalating trade war fears and no prospect of a China deal. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-04-08 | [Malaysian palm oil extends losses - Markets - Business Recorder](https://feedsoft.ai/events/9625-malaysian-palm-oil-extends-losses-markets-business-recorder.md) | +1.5% | -1.6% |
| WTI | 2019-06-03 | [Oil falls as trade worries mount, Saudi comments limit losses](https://feedsoft.ai/events/11307-oil-falls-as-trade-worries-mount-saudi-comments-limit-losses.md) | +0.9% | +9.0% |
| WTI | 2025-04-07 | [Oil drops to four-year low, metals fall on recession fears](https://feedsoft.ai/events/6319-oil-drops-to-four-year-low-metals-fall-on-recession-fears.md) | -0.8% | -6.8% |
| WTI | 2025-04-09 | [Oil falls to lowest since 2021 as Trump's tariffs take effect](https://feedsoft.ai/events/6322-oil-falls-to-lowest-since-2021-as-trump-s-tariffs-take-effect.md) | +2.9% | -1.5% |
| WTI | 2019-05-31 | [Oil Market: US oil falls 5.5% to $53.50 per barrel on fresh trade worries](https://feedsoft.ai/events/9885-oil-market-us-oil-falls-5-5-to-53-50-per-barrel-on-fresh-trade-worries.md) | -6.9% | +4.9% |
| BRENT | 2025-04-08 | [Malaysian palm oil extends losses - Markets - Business Recorder](https://feedsoft.ai/events/9625-malaysian-palm-oil-extends-losses-markets-business-recorder.md) | +1.3% | -4.5% |
| BRENT | 2019-06-03 | [Oil falls as trade worries mount, Saudi comments limit losses](https://feedsoft.ai/events/11307-oil-falls-as-trade-worries-mount-saudi-comments-limit-losses.md) | -2.9% | +2.1% |
| BRENT | 2025-04-07 | [Oil drops to four-year low, metals fall on recession fears](https://feedsoft.ai/events/6319-oil-drops-to-four-year-low-metals-fall-on-recession-fears.md) | -1.7% | -9.0% |

## Sources

- economies.com: https://www.economies.com/commodities/oil-news/loonie-falls-on-oil-extends-losses-29153

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