# Canadian dollar weakens on lower oil; US near trade deal with Canada, Trump says

> The Canadian dollar weakened in New York trading as crude fell to the mid-$93 range. Reports said the U.S. is reviewing the latest Iran mediator proposal. Trump said a trade agreement with Canada is near and that Canada will supply fertilizer to the U.S. without tariffs.

- Date: 2026-11-03 · published 2026-11-03T15:11:15.022Z
- Category: trade · region North America · magnitude medium
- Page: https://feedsoft.ai/events/77886-canadian-dollar-weakens-on-lower-oil-us-near-trade-deal-with-canada-trump-says
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Potash (KCl)](https://feedsoft.ai/c/POTASH.md)

## Why it matters

A tariff-free Canadian fertilizer supply to the U.S. would ease potash and nitrogen costs for American farms, which tends to be bearish for fertilizer prices. Lower crude also reduces the cost pressure on biofuel feedstocks and freight.

## Read by commodity

- WTI: bearish ▼
- POTASH: bearish ▼
- USDCAD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-04-02 | [Canadian dollar dips as stocks and oil tumble on rising trade tensions - The Globe and Mail](https://feedsoft.ai/events/65746-canadian-dollar-dips-as-stocks-and-oil-tumble-on-rising-trade-tensions-the.md) | -4.4% | +5.0% |
| WTI | 2018-04-06 | [US oil closes 2.3% lower after Trump's latest China trade threats](https://feedsoft.ai/events/10843-us-oil-closes-2-3-lower-after-trump-s-latest-china-trade-threats.md) | +5.6% | +7.7% |
| WTI | 2025-04-03 | [Palm opens lower on weaker rival oils, crude oil prices](https://feedsoft.ai/events/9626-palm-opens-lower-on-weaker-rival-oils-crude-oil-prices.md) | -13.1% | -16.5% |
| WTI | 2026-05-27 | [Canadian dollar hits six-week low as USMCA headline risk grows \| Reuters](https://feedsoft.ai/events/19483-canadian-dollar-hits-six-week-low-as-usmca-headline-risk-grows-reuters.md) | +0.7% | -16.4% |
| WTI | 2025-04-08 | [Oil settles down $1 at four-year low as US-China trade war escalates](https://feedsoft.ai/events/25281-oil-settles-down-1-at-four-year-low-as-us-china-trade-war-escalates.md) | +1.5% | -1.6% |

## Sources

- jp.investing.com: https://jp.investing.com/news/forex-news/article-1739213
- zaikei.co.jp: https://www.zaikei.co.jp/article/20261103/875984.html

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