# Canadian dollar slips from six-week high as oil retreat offsets weaker U.S. dollar

> The Canadian dollar edged lower to about 1.3973 per US dollar as crude fell, with Brent down 3.7% to $109.23 and WTI down 3.8% to $100.14. A weaker US dollar, which touched a one-month low, limited the loonie's losses amid Middle East diplomacy.

- Date: 2026-11-02 · published 2026-11-02T21:11:25.626Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/75911-canadian-dollar-slips-from-six-week-high-as-oil-retreat-offsets-weaker-u-s
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Falling oil and a softer dollar reflect easing Middle East supply fears, which lowers energy and freight costs for feed markets. The currency move itself has little direct effect on feed grain prices.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-07-30 | [Canadian dollar rises to six-week high as greenback slides - The Globe and Mail](https://feedsoft.ai/events/18588-canadian-dollar-rises-to-six-week-high-as-greenback-slides-the-globe-and-mail.md) | -10.1% | +2.3% |
| WTI | 2024-01-31 | [Canadian dollar weakens as Fed rate signal offsets GDP gain - The Globe and Mail](https://feedsoft.ai/events/32333-canadian-dollar-weakens-as-fed-rate-signal-offsets-gdp-gain-the-globe-and-mail.md) | -6.0% | +1.3% |
| WTI | 2026-07-27 | [Canadian dollar hits near two-week low as oil prices drop \| Reuters](https://feedsoft.ai/events/18591-canadian-dollar-hits-near-two-week-low-as-oil-prices-drop-reuters.md) | -3.3% | -2.6% |
| WTI | 2022-10-31 | [Canadian dollar slips to six-day low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/39347-canadian-dollar-slips-to-six-day-low-as-oil-prices-fall-the-globe-and-mail.md) | +5.4% | -12.2% |
| WTI | 2020-01-24 | [Canadian dollar slips as oil prices fall on China virus scare](https://feedsoft.ai/events/55301-canadian-dollar-slips-as-oil-prices-fall-on-china-virus-scare.md) | -6.1% | -3.9% |
| BRENT | 2018-05-31 | [Oil Price Slides, Canadian Dollar Exchange Rates Side With It \| Exchange Rates UK](https://feedsoft.ai/events/65244-oil-price-slides-canadian-dollar-exchange-rates-side-with-it-exchange-rates-uk.md) | -3.1% | +0.2% |
| BRENT | 2021-11-22 | [Canadian dollar weekly losing streak continues - Business & Finance - Business Recorder](https://feedsoft.ai/events/44266-canadian-dollar-weekly-losing-streak-continues-business-and-finance-business.md) | -8.8% | -7.9% |
| BRENT | 2021-11-30 | [Canadian dollar dips as Omicron variant concerns offset GDP gain - The Globe and Mail](https://feedsoft.ai/events/44264-canadian-dollar-dips-as-omicron-variant-concerns-offset-gdp-gain-the-globe-and.md) | -0.2% | +4.8% |

## Sources

- ca.investing.com: https://ca.investing.com/news/forex-news/canadian-dollar-slips-from-sixweek-high-as-oil-retreat-offsets-weaker-us-dollar-4922154
- in.investing.com: https://in.investing.com/news/forex-news/canadian-dollar-slips-from-sixweek-high-as-oil-retreat-offsets-weaker-us-dollar-5672533
- investing.com: https://www.investing.com/news/forex-news/canadian-dollar-slips-from-sixweek-high-as-oil-retreat-offsets-weaker-us-dollar-4992383

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