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USD/CAD fell toward 1.3990 in Asian trade on Tuesday as WTI crude recovered to about $95.80 a barrel after a nearly 7% drop in the previous session. Iran said indirect talks with the US, mediated by Qatar, were still underway without a major breakthrough.
Canada is the largest crude exporter to the US, so the loonie tracks oil; a firmer crude price supports CAD and matters for energy-linked currency moves in agricultural import costs. Ongoing diplomacy keeps oil volatile, so the currency-oil link stays sensitive to headlines.
fxstreet.comAkhtar FaruquiNov 3, 2026After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
