# Lower Oil Prices: Canadian Dollar Hits 7-Week Low | Investors King

> The Canadian dollar fell 0.4 percent to 1.3169 per US dollar on October 31, its weakest since September 9, as weak oil prices and global growth concerns hit commodity currencies. The loonie has dropped 1.9 percent so far this month, and US-China trade and Iran sanctions are also in focus.

- Date: 2018-10-31 · published 2018-10-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/62781-lower-oil-prices-canadian-dollar-hits-7-week-low-investors-king
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Weaker commodity currencies and softer crude reduce energy input costs but signal slower global growth, which can pressure demand for feed commodities.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-07-27 | [Canadian dollar hits near two-week low as oil prices drop \| Reuters](https://feedsoft.ai/events/18591-canadian-dollar-hits-near-two-week-low-as-oil-prices-drop-reuters.md) | -3.3% | -2.6% |
| WTI | 2016-12-23 | [C$ hits a 5-week low on soft data, lower oil prices](https://feedsoft.ai/events/73697-c-hits-a-5-week-low-on-soft-data-lower-oil-prices.md) | +2.8% | +0.7% |
| WTI | 2022-04-29 | [Canadian dollar hits 7-week low - Business & Finance - Business Recorder](https://feedsoft.ai/events/42107-canadian-dollar-hits-7-week-low-business-and-finance-business-recorder.md) | +2.6% | +9.5% |
| 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 | 2020-09-29 | [Canadian Dollar Slides on Higher Producer Prices, Crashing Oil Prices](https://feedsoft.ai/events/51350-canadian-dollar-slides-on-higher-producer-prices-crashing-oil-prices.md) | -3.4% | -5.1% |

## Sources

- investorsking.com: https://investorsking.com/2018/11/01/lower-oil-prices-canadian-dollar-hits-7-week-low/

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