# C$ dips as oil pullback offsets manufacturing gain

> The Canadian dollar dipped as oil fell 0.9 percent to $45 a barrel after weekly US crude stocks rose more than expected. The loonie traded at C$1.3462 to the US dollar, or 74.28 US cents.

- Date: 2016-11-16 · published 2016-11-16T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/74057-c-dips-as-oil-pullback-offsets-manufacturing-gain
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower crude prices weaken energy-linked demand for biofuel feedstocks and reduce support for vegetable oil and meal values.

## Read by commodity

- WTI: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/canada-forex-idUSL1N1DH0UL/?feedName=usDollarRpt&feedType=RSS

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