# The Canada conundrum

> Canadian economic data is running at its strongest relative to expectations since 2010, yet the Canadian dollar has weakened. WTI has fallen 12% since the start of March, and the Bank of Canada remains dovish. Governor Poloz was due to speak the following day.

- Date: 2017-03-27 · published 2017-03-27T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/72218-the-canada-conundrum
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Lower crude prices are cutting Canada's terms of trade and weighing on the loonie, which marginally supports Canadian export competitiveness for oilseeds and meals.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-03-31 | [Canadian dollar shrugs off the oil drop](https://feedsoft.ai/events/42501-canadian-dollar-shrugs-off-the-oil-drop.md) | -10.6% | -2.2% |
| WTI | 2025-04-28 | [Loonie strengthens as Canadians head to the polls](https://feedsoft.ai/events/25355-loonie-strengthens-as-canadians-head-to-the-polls.md) | -6.9% | -1.8% |
| WTI | 2019-05-29 | [Canada, Mexico, and the USMCA - Marc to Market  Marc Chandler on Global FX and Capital Markets](https://feedsoft.ai/events/59323-canada-mexico-and-the-usmca-marc-to-market-marc-chandler-on-global-fx-and.md) | -9.3% | -2.2% |
| WTI | 2020-01-29 | [The Canadian Dollar Is Unprepared for Coronavirus Impact on Bank of Canada Outlook](https://feedsoft.ai/events/55307-the-canadian-dollar-is-unprepared-for-coronavirus-impact-on-bank-of-canada.md) | -7.1% | -8.8% |
| WTI | 2022-06-30 | [ICE weekly outlook: The larger picture behind drop in canola  - AgCanada](https://feedsoft.ai/events/41043-ice-weekly-outlook-the-larger-picture-behind-drop-in-canola-agcanada.md) | -6.3% | -11.5% |

## Sources

- investinglive.com: https://investinglive.com/news/!/the-canada-conundrum-20170327

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