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USD/CAD fell to around 1.3970 as the US dollar weakened and Treasury yields dropped, with the 10-year yield down six basis points to 4.90%. Crude oil rose while investors weighed ongoing US-Iran peace negotiations and mixed signals about possible military action.
Higher crude prices support the commodity-linked Canadian dollar, which feeds into Canadian canola and other export competitiveness. Oil strength also raises energy and diesel costs for feed transport and processing.
fxstreet.comAkhtar FaruquiNov 4, 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.
