# C$ Posts 12-day High as Oil Rallies, Poloz Awaited on Tuesday - Babypips.com

> The Canadian dollar hit a 12-day high against the US dollar on November 6 as oil rallied to its highest since July 2015, with US crude settling at $57.35. Traders awaited a Bank of Canada speech by Governor Poloz.

- Date: 2017-11-06 · published 2017-11-06T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/68202-c-posts-12-day-high-as-oil-rallies-poloz-awaited-on-tuesday-babypips-com
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher crude supports Canadian dollar strength, which tends to raise the cost of Canadian oilseed exports while crude strength lifts biofuel-linked demand for vegetable oils.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Sources

- babypips.com: https://www.babypips.com/news/c-posts-12-day-high-oil-rallies-poloz-awaited-tuesday

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