# Canadian dollar dips as investors turn attention to Fed - The Globe and Mail

> The Canadian dollar edged lower against the US dollar on Tuesday despite higher oil prices, as investors awaited the Federal Reserve decision and Canadian GDP data. US crude settled 2.5% higher at $53.31 after US sanctions on Venezuela's PDVSA.

- Date: 2019-01-29 · published 2019-01-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/61320-canadian-dollar-dips-as-investors-turn-attention-to-fed-the-globe-and-mail
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker loonie and firmer crude both feed into Canadian and US-linked commodity pricing, while the Fed's stance on rates shapes the dollar and therefore dollar-denominated grain and oilseed values.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-07-29 | [Canadian dollar gains as investors sell greenbacks on ‘downbeat’ Fed - The Globe and Mail](https://feedsoft.ai/events/52351-canadian-dollar-gains-as-investors-sell-greenbacks-on-downbeat-fed-the-globe.md) | +1.8% | +5.6% |
| WTI | 2022-09-27 | [Surging bond yields spook investors, capping Canadian dollar gains - The Globe and Mail](https://feedsoft.ai/events/39815-surging-bond-yields-spook-investors-capping-canadian-dollar-gains-the-globe-and.md) | +9.0% | +11.1% |
| WTI | 2022-12-20 | [Canadian dollar gains as investors weigh Bank of Japan’s policy shift - The Globe and Mail](https://feedsoft.ai/events/38457-canadian-dollar-gains-as-investors-weigh-bank-of-japan-s-policy-shift-the-globe.md) | +5.8% | +7.0% |
| WTI | 2021-12-16 | [Canadian dollar rallies as more central banks move on inflation - The Globe and Mail](https://feedsoft.ai/events/43854-canadian-dollar-rallies-as-more-central-banks-move-on-inflation-the-globe-and.md) | +2.7% | +15.7% |
| WTI | 2021-07-28 | [Canadian dollar gains as Fed readies new money market facilities - The Globe and Mail](https://feedsoft.ai/events/46270-canadian-dollar-gains-as-fed-readies-new-money-market-facilities-the-globe-and.md) | -1.5% | -5.8% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-steadies-as-higher-oil-prices-offset-us-china/

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