# Canadian dollar weakens as oil price slump offsets domestic data - The Business Times

> The Canadian dollar weakened on Friday as a further slide in oil prices outweighed domestic data showing above-target inflation and higher retail sales. US crude settled 7.7 percent lower at $50.42 a barrel, and Western Canadian Select traded at a record discount to WTI.

- Date: 2018-11-25 · published 2018-11-25T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/62272-canadian-dollar-weakens-as-oil-price-slump-offsets-domestic-data-the-business
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Lower oil prices and wide heavy crude discounts pressure Canadian producer revenues and the loonie, which can affect Canadian canola and crop input economics. Energy weakness also feeds into broader commodity sentiment.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/canadian-dollar-weakens-oil-price-slump-offsets-domestic-data

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