# C$ pares recent gains ahead of Bank of Canada rate decision

> The Canadian dollar weakened against the US dollar on January 18 as oil fell and the greenback rebounded from its weakest level since early December. Investors were positioning ahead of a Bank of Canada rate decision.

- Date: 2017-01-18 · published 2017-01-18T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/73219-c-pares-recent-gains-ahead-of-bank-of-canada-rate-decision
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Softer oil and a firmer US dollar push commodity-linked currencies lower, with the greenback strength making US feed exports relatively more expensive abroad.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-01-09 | [Bank of Canada maintains overnight rate target at 1 ¾ per cent - Bank of Canada](https://feedsoft.ai/events/61325-bank-of-canada-maintains-overnight-rate-target-at-1-3-4-per-cent-bank-of-canada.md) | +4.5% | +8.1% |
| WTI | 2018-12-05 | [Bank of Canada maintains overnight rate target at 1 ¾ per cent - Bank of Canada](https://feedsoft.ai/events/61780-bank-of-canada-maintains-overnight-rate-target-at-1-3-4-per-cent-bank-of-canada.md) | -3.0% | -11.7% |
| WTI | 2023-01-30 | [Risk aversion weighs on Canadian dollar ahead of Fed rate decision - The Globe and Mail](https://feedsoft.ai/events/38035-risk-aversion-weighs-on-canadian-dollar-ahead-of-fed-rate-decision-the-globe.md) | -7.9% | -5.2% |
| WTI | 2026-07-28 | [Canadian dollar rebounds from two-week low ahead of Fed decision \| Reuters](https://feedsoft.ai/events/18590-canadian-dollar-rebounds-from-two-week-low-ahead-of-fed-decision-reuters.md) | +2.0% | +5.9% |
| WTI | 2020-04-15 | [Bank of Canada maintains overnight rate target and unveils new market operations - Bank of Canada](https://feedsoft.ai/events/53864-bank-of-canada-maintains-overnight-rate-target-and-unveils-new-market.md) | -32.0% | +25.9% |
| DXY | 2022-01-26 | [Bank of Canada interest rate decision: what you need to know](https://feedsoft.ai/events/43395-bank-of-canada-interest-rate-decision-what-you-need-to-know.md) | +0.2% | -0.4% |
| DXY | 2022-03-03 | [Euro extends recent fall, U.S. dollar gains ahead of jobs data](https://feedsoft.ai/events/8257-euro-extends-recent-fall-u-s-dollar-gains-ahead-of-jobs-data.md) | +0.7% | -0.6% |
| DXY | 2025-10-29 | [Dollar drifts higher ahead of Fed decision, Aussie gains on CPI \| MarketScreener](https://feedsoft.ai/events/22662-dollar-drifts-higher-ahead-of-fed-decision-aussie-gains-on-cpi-marketscreener.md) | +1.0% | +0.5% |

## Sources

- reuters.com: https://www.reuters.com/article/canada-forex-idUSL1N1F80TD/?feedName=usDollarRpt&feedType=RSS

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