# Oil and U.S. dollar conspire to push down loonie as this week's gains lose some loft - Financial Post

> On June 15, 2017 the Canadian dollar weakened against the US dollar, giving up part of the week's gains. Lower oil prices, with US crude near US$44.48, and a firmer greenback after the Fed rate hike offset stronger-than-expected Canadian manufacturing sales.

- Date: 2017-06-15 · published 2017-06-15T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/70741-oil-and-u-s-dollar-conspire-to-push-down-loonie-as-this-week-s-gains-lose-some
- 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 crude and a firmer US dollar reduce the value of Canadian currency and energy exports, which can ease costs for some feed inputs. The impact on feed prices is modest.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-10-21 | [Canadian dollar falls by most in three weeks as oil stumbles \| Financial Post](https://feedsoft.ai/events/44823-canadian-dollar-falls-by-most-in-three-weeks-as-oil-stumbles-financial-post.md) | -1.9% | -7.0% |
| WTI | 2022-11-18 | [Canadian dollar extends weekly decline as oil prices slide \| Financial Post](https://feedsoft.ai/events/38908-canadian-dollar-extends-weekly-decline-as-oil-prices-slide-financial-post.md) | -6.5% | -9.1% |
| WTI | 2022-03-15 | [Posthaste: Why the loonie has taken its foot off the gas during this oil boom - Financial Post](https://feedsoft.ai/events/42502-posthaste-why-the-loonie-has-taken-its-foot-off-the-gas-during-this-oil-boom.md) | +8.7% | -8.6% |
| WTI | 2022-03-25 | [Thai baht, Asian FX gain as oil prices come off the boil \| Financial Post](https://feedsoft.ai/events/42509-thai-baht-asian-fx-gain-as-oil-prices-come-off-the-boil-financial-post.md) | -11.6% | -9.7% |
| WTI | 2020-09-09 | [Dollar and yen rise as tech selloff sends investors to safety \| Financial Post](https://feedsoft.ai/events/51342-dollar-and-yen-rise-as-tech-selloff-sends-investors-to-safety-financial-post.md) | +3.9% | +10.1% |

## Sources

- financialpost.com: https://financialpost.com/economy/oil-and-u-s-dollar-conspire-to-push-down-loonie-as-this-weeks-gains-lose-some-loft/

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