# USD/CAD: a lift in oil prices coming?  - Nomura — Octa

> Nomura says the Canadian dollar is under pressure from US trade concerns, lower oil prices, housing worries and weaker data. It expects the currency to rebound over time as OPEC production cuts are extended through end-2017.

- Date: 2017-05-11 · published 2017-05-11T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/71240-usd-cad-a-lift-in-oil-prices-coming-nomura-octa
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations of firmer oil prices and a later CAD rebound would support Canadian export values, while near-term weakness keeps Canadian commodities competitive for US buyers.

## Read by commodity

- WTI: bullish ▲
- USDCAD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-05-31 | [CAD boosted by jump in oil prices - OFX (CA)](https://feedsoft.ai/events/47335-cad-boosted-by-jump-in-oil-prices-ofx-ca.md) | +4.4% | +10.0% |
| WTI | 2020-05-18 | [Dollar struggles as rising oil prices lift commodity currencies](https://feedsoft.ai/events/53034-dollar-struggles-as-rising-oil-prices-lift-commodity-currencies.md) | +13.5% | +26.0% |
| WTI | 2018-04-11 | [Strong Demand, Not OPEC, Is Pushing Oil Prices Higher \| OilPrice.com](https://feedsoft.ai/events/65723-strong-demand-not-opec-is-pushing-oil-prices-higher-oilprice-com.md) | +1.6% | +5.2% |
| WTI | 2024-12-24 | [Oil prices up on US growth data](https://feedsoft.ai/events/27128-oil-prices-up-on-us-growth-data.md) | +4.0% | +7.9% |
| WTI | 2017-08-04 | [Oil prices rise after strong US jobs data; rising exports cap gains](https://feedsoft.ai/events/69651-oil-prices-rise-after-strong-us-jobs-data-rising-exports-cap-gains.md) | -1.0% | -3.6% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/441261/

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