# Canadian Dollar gains despite lower oil prices

> The Canadian dollar traded higher against the US dollar, although falling crude prices weighed on the currency. Strong US employment data raised expectations of a Federal Reserve rate hike, while markets awaited US inflation reports.

- Date: 2026-11-09 · published 2026-11-09T03:09:59.064Z
- Category: macro · region Canada, United States · magnitude low
- Page: https://feedsoft.ai/events/88542-canadian-dollar-gains-despite-lower-oil-prices
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Lower oil prices can weaken Canada’s commodity-linked currency, while stronger US rate expectations support the dollar; both factors can push USD/CAD higher. Cheaper crude is bearish for oil prices.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-10-31 | [Lower Oil Prices: Canadian Dollar Hits 7-Week Low \| Investors King](https://feedsoft.ai/events/62781-lower-oil-prices-canadian-dollar-hits-7-week-low-investors-king.md) | -6.0% | -24.2% |
| WTI | 2020-09-29 | [Canadian Dollar Slides on Higher Producer Prices, Crashing Oil Prices](https://feedsoft.ai/events/51350-canadian-dollar-slides-on-higher-producer-prices-crashing-oil-prices.md) | -3.4% | -5.1% |
| WTI | 2022-09-29 | [USDCAD Price: Canadian Dollar Drops Despite Positive GDP Data](https://feedsoft.ai/events/39821-usdcad-price-canadian-dollar-drops-despite-positive-gdp-data.md) | +6.8% | +7.8% |
| WTI | 2023-05-30 | [Canadian dollar dips as oil prices fall more than 4%](https://feedsoft.ai/events/36186-canadian-dollar-dips-as-oil-prices-fall-more-than-4.md) | -0.4% | -6.6% |
| WTI | 2021-12-15 | [Canadian dollar at nearly 3-month low as oil prices fall \| Reuters](https://feedsoft.ai/events/43853-canadian-dollar-at-nearly-3-month-low-as-oil-prices-fall-reuters.md) | +0.7% | +16.9% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/canadian-dollar-gains-despite-lower-oil-prices-202611090236

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