# Canadian dollar weakens as oil falls, investors brace for Poloz

> The Canadian dollar weakened as US crude fell 61 cents to $53.17 a barrel on rising US drilling. Speculators turned bullish on the loonie for the first time since September, and investors awaited Bank of Canada Governor Poloz's speech.

- Date: 2017-01-27 · published 2017-01-27T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/73216-canadian-dollar-weakens-as-oil-falls-investors-brace-for-poloz
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Lower oil prices weigh on the loonie given Canada's oil exports, and the dollar's rise on tariff expectations signals a firmer US currency that pressures dollar-priced feed commodities.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-03-13 | [Canadian dollar weakens as trade war spooks investors](https://feedsoft.ai/events/25825-canadian-dollar-weakens-as-trade-war-spooks-investors.md) | -0.5% | -7.6% |
| WTI | 2018-10-23 | [Canadian dollar shakes off plunge in oil as investors brace for BoC rate hike - The Globe and Mail](https://feedsoft.ai/events/62779-canadian-dollar-shakes-off-plunge-in-oil-as-investors-brace-for-boc-rate-hike.md) | -3.2% | -17.6% |
| WTI | 2021-07-27 | [Canadian dollar falls as China stock sell-off spooks investors \| Financial Post](https://feedsoft.ai/events/46272-canadian-dollar-falls-as-china-stock-sell-off-spooks-investors-financial-post.md) | -1.1% | -8.9% |
| WTI | 2018-10-31 | [Lower Oil Prices: Canadian Dollar Hits 7-Week Low \| Investors King](https://feedsoft.ai/events/62781-lower-oil-prices-canadian-dollar-hits-7-week-low-investors-king.md) | -6.0% | -24.2% |
| 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% |
| DXY | 2021-07-27 | [Canadian dollar falls as China stock sell-off spooks investors \| Financial Post](https://feedsoft.ai/events/46272-canadian-dollar-falls-as-china-stock-sell-off-spooks-investors-financial-post.md) | -0.5% | +0.6% |
| DXY | 2016-11-14 | [Canadian dollar falls as investors buy into U.S. under Trump \| CBC News](https://feedsoft.ai/events/74058-canadian-dollar-falls-as-investors-buy-into-u-s-under-trump-cbc-news.md) | +1.4% | +0.8% |
| DXY | 2022-01-26 | [Canadian dollar weakens as BoC foregoes rate hike \| Financial Post](https://feedsoft.ai/events/43390-canadian-dollar-weakens-as-boc-foregoes-rate-hike-financial-post.md) | +0.2% | -0.4% |

## Sources

- ca.finance.yahoo.com: https://ca.finance.yahoo.com/news/canadian-dollar-weakens-oil-falls-investors-brace-poloz-223921268--finance.html

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