# Oil prices are high. So why is the Canadian dollar still so low? - National | Globalnews.ca

> Oil prices are at a three-and-a-half-year high, yet the Canadian dollar stays near 75 US cents. Analysts point to the Federal Reserve rate outlook, oil sands production issues and tariff threats as reasons the loonie is weak despite higher crude.

- Date: 2018-06-28 · published 2018-06-28T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/64754-oil-prices-are-high-so-why-is-the-canadian-dollar-still-so-low-national
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

The disconnect shows currency and rate drivers currently outweigh the usual oil link, keeping Canadian import costs high for feed buyers.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-02-17 | [Why oil and the Canadian dollar are breaking up - The Globe and Mail](https://feedsoft.ai/events/42921-why-oil-and-the-canadian-dollar-are-breaking-up-the-globe-and-mail.md) | -1.1% | +9.8% |
| WTI | 2022-01-11 | [Canadian dollar climbs to 2-month high as oil prices jump](https://feedsoft.ai/events/43396-canadian-dollar-climbs-to-2-month-high-as-oil-prices-jump.md) | +9.3% | +14.3% |
| WTI | 2020-12-02 | [Canadian dollar notches a 2-year high on higher oil prices \| Financial Post](https://feedsoft.ai/events/49875-canadian-dollar-notches-a-2-year-high-on-higher-oil-prices-financial-post.md) | +2.4% | +8.4% |
| WTI | 2022-06-03 | [Canadian dollar dips but posts 3rd weekly gain on soaring oil prices - The Globe and Mail](https://feedsoft.ai/events/41187-canadian-dollar-dips-but-posts-3rd-weekly-gain-on-soaring-oil-prices-the-globe.md) | +4.0% | -6.2% |
| WTI | 2026-10-20 | [Canadian dollar outlook: oil prices and Fed signals drive the loonie By Investing.com](https://feedsoft.ai/events/17267-canadian-dollar-outlook-oil-prices-and-fed-signals-drive-the-loonie-by.md) | -0.2% | — |

## Sources

- globalnews.ca: https://globalnews.ca/news/4302375/canadian-dollar-oil-prices-trump-trade-war/

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