# Canadian dollar underperforms most G10 currencies as oil falls

> The Canadian dollar was little changed near 1.4135 per US dollar on Monday but underperformed most G10 currencies as oil prices fell. Canadian employment declined for a third consecutive month in October, lifting unemployment to 6.7%, while stronger US job growth widened the gap in expected Bank of Canada and Federal Reserve rate decisions.

- Date: 2026-11-09 · published 2026-11-09T21:09:25.362Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/90168-canadian-dollar-underperforms-most-g10-currencies-as-oil-falls
- 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 and reduced expectations for Canadian rate hikes weigh on the loonie, supporting a higher USD/CAD exchange rate. The currency move can affect the local-currency cost of imported feed and other commodities.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2021-10-21 | [Canadian dollar falls by most in three weeks as oil stumbles \| Financial Post](https://feedsoft.ai/events/44823-canadian-dollar-falls-by-most-in-three-weeks-as-oil-stumbles-financial-post.md) | -1.9% | -7.0% |
| WTI | 2021-04-21 | [Canadian dollar sees biggest drop in nearly 2 months as oil falls](https://feedsoft.ai/events/47853-canadian-dollar-sees-biggest-drop-in-nearly-2-months-as-oil-falls.md) | +0.7% | +4.7% |
| WTI | 2017-01-27 | [Canadian dollar weakens as oil falls, investors brace for Poloz](https://feedsoft.ai/events/73216-canadian-dollar-weakens-as-oil-falls-investors-brace-for-poloz.md) | +0.2% | +1.1% |
| 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

- kitco.com: https://www.kitco.com/news/off-the-wire/2026-11-09/canadian-dollar-underperforms-most-g10-currencies-oil-falls
- livemint.com: https://www.livemint.com/market/canadian-dollar-underperforms-most-g10-currencies-as-oil-falls-11794252780817.html

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