# USD/CAD Hits Seven-Week Low as Dollar Slides and Oil Drops 9%

> USD/CAD fell to 1.3930 on November 4, its lowest since mid-September, as the US dollar weakened after the midterm elections and the Bank of Canada raised rates. The move occurred the same day Brent crude dropped 8.9% to $94.29 a barrel.

- Date: 2026-11-05 · published 2026-11-05T12:08:26.545Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/81630-usd-cad-hits-seven-week-low-as-dollar-slides-and-oil-drops-9
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Currency moves here mainly affect Canadian export competitiveness and the cost of imported feed for North American buyers, while the sharp oil decline reflects reduced Iran war risk premium.

## Read by commodity

- DXY: bearish ▼
- BRENT: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-07-10 | [US dollar drops to three-week low as Fed rate hikes nearly done](https://feedsoft.ai/events/9980-us-dollar-drops-to-three-week-low-as-fed-rate-hikes-nearly-done.md) | -1.7% | -0.2% |
| DXY | 2025-12-03 | [Euro hits almost seven-week high, dollar broadly lower](https://feedsoft.ai/events/21725-euro-hits-almost-seven-week-high-dollar-broadly-lower.md) | -0.4% | -1.2% |
| DXY | 2021-02-11 | [Dollar slides near two-week lows as Fed pledges low rates](https://feedsoft.ai/events/48817-dollar-slides-near-two-week-lows-as-fed-pledges-low-rates.md) | +0.5% | +1.2% |
| DXY | 2025-06-26 | [AUD/USD reclaims seven-month high around 0.6550 as US Dollar slides further — Octa](https://feedsoft.ai/events/24492-aud-usd-reclaims-seven-month-high-around-0-6550-as-us-dollar-slides-further-octa.md) | -0.9% | -0.6% |
| DXY | 2026-01-29 | [USD/CAD slides to 1.3530, pressured by bullish Oil and weak USD](https://feedsoft.ai/events/21290-usd-cad-slides-to-1-3530-pressured-by-bullish-oil-and-weak-usd.md) | +0.6% | +0.3% |
| BRENT | 2025-01-27 | [Oil hits 2-week low as China's DeepSeek AI spurs demand fears \| Reuters](https://feedsoft.ai/events/26682-oil-hits-2-week-low-as-china-s-deepseek-ai-spurs-demand-fears-reuters.md) | -2.1% | -5.0% |
| BRENT | 2023-11-01 | [Oil falls to settle at 3-week low as Fed policy stance lifts dollar](https://feedsoft.ai/events/33077-oil-falls-to-settle-at-3-week-low-as-fed-policy-stance-lifts-dollar.md) | -5.3% | -6.2% |
| BRENT | 2021-03-19 | [Oil battered in ugly week as demand concerns, dollar spur slump](https://feedsoft.ai/events/7045-oil-battered-in-ugly-week-as-demand-concerns-dollar-spur-slump.md) | -1.8% | +5.9% |

## Sources

- vantagemarkets.com: https://www.vantagemarkets.com/market-analysis/why-usd-cad-fell-seven-week-low-dollar-oil-november-5-2026/

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