# The Canadian Dollar is missing out on a weaker US Dollar. Here’s why

> The Canadian dollar weakened on Monday as falling oil prices weighed on the currency, while weak Canadian employment data reduced expectations for further Bank of Canada rate hikes. Strong US jobs data supported expectations of a Federal Reserve rate increase, and USD/CAD rose to around 1.4131 despite a decline in the US Dollar Index.

- Date: 2026-11-09 · published 2026-11-09T21:09:25.288Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/90167-the-canadian-dollar-is-missing-out-on-a-weaker-us-dollar-here-s-why
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower oil prices reduce support for Canada’s export-linked currency, while diverging rate expectations add to pressure on the loonie. A weaker CAD is reflected in a higher USD/CAD exchange rate.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-11-07 | [Canadian dollar weakens despite wider trade surplus - The Globe and Mail](https://feedsoft.ai/events/33410-canadian-dollar-weakens-despite-wider-trade-surplus-the-globe-and-mail.md) | -3.2% | -11.3% |
| WTI | 2022-03-31 | [Canadian dollar shrugs off the oil drop](https://feedsoft.ai/events/42501-canadian-dollar-shrugs-off-the-oil-drop.md) | -10.6% | -2.2% |
| WTI | 2020-01-29 | [The Canadian Dollar Is Unprepared for Coronavirus Impact on Bank of Canada Outlook](https://feedsoft.ai/events/55307-the-canadian-dollar-is-unprepared-for-coronavirus-impact-on-bank-of-canada.md) | -7.1% | -8.8% |
| WTI | 2025-03-13 | [Canadian dollar weakens as trade war spooks investors](https://feedsoft.ai/events/25825-canadian-dollar-weakens-as-trade-war-spooks-investors.md) | -0.5% | -7.6% |
| WTI | 2018-12-20 | [The Canadian dollar and the price at the gas pump: Why you can’t win for losing - The Globe and Mail](https://feedsoft.ai/events/61782-the-canadian-dollar-and-the-price-at-the-gas-pump-why-you-can-t-win-for-losing.md) | -6.7% | +12.5% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/canadian-dollar-loses-ground-even-as-the-us-dollar-index-falls-202611091830

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