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1. • • The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls.
     www.fxstreet.com/news/canadian-dollar-tumbles-for-sixth-straight-day-202410092051

     Canadian Dollar tumbles for sixth straight day - FXStreet

2. People also ask

   What happened to the Canadian dollar and oil prices?

   • For years, it was a rock-solid relationship: When oil prices would climb, the Canadian dollar would get a lift, too. But that bond has broken down. Oil prices rallied this week to seven-year highs, partly because producers are showing restraint in ramping up output.

   Why oil and the Canadian loonie are breaking up

   www.theglobeandmail.com/business/article-you-can-go-your-own-way-why-oil-and-the-loonie-are-breaking-up/

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   Is the Canadian dollar (CAD) correlated to the oil price?

   • Historically the exchange rate of the Canadian Dollar (CAD) is highly correlated to the Oil price. Canada is exporting daily about 2 million oil barrels to the United States, while 85% of all Canada’s exports are going in the US. These are the monthly average returns of USDCAD based on 15 years of daily data.

   CarryTrader.com - USDCAD

   www.carrytrader.com/currency/forex-pairs/usdcad

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   How does crude oil affect US dollars in Canada?

   • Because crude oil exports account for a large portion of U.S. currency that's earned by Canada, movements in the price and the volume of crude oil have a significant impact on the flow of U.S. dollars into the Canadian economy. When oil prices are high, the amount of U.S. dollars Canada earns on each barrel of oil it exports will be high.

   How & Why Oil Impacts The Canadian Dollar - Investopedia

   www.investopedia.com/articles/investing/021315/how-why-oil-impacts-canadian-dollar-cad.asp

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   What happened to the Canadian dollar?

   • (Reporting by Fergal Smith; editing by Jonathan Oatis) The Canadian dollar weakened to a seven-week low against its U.S. counterpart on Tuesday as the price of oil fell 4% and investors reassessed the outlook for Federal Reserve interest rate cuts.

   Canadian dollar weakens to 7-week low as oil tumbles

   ca.finance.yahoo.com/news/canada-fx-debt-canadian-dollar-130626942.html

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3. www.reuters.com › markets › currenciesCanadian dollar weakens to 7-week low as oil tumbles | Reuters

   www.reuters.com › markets › currencies

   2 days ago · The Canadian dollar weakened to a seven-week low against its U.S. counterpart on Tuesday as the price of oil fell 4% and investors reassessed the outlook for Federal Reserve interest rate cuts.

4. ca.finance.yahoo.com › news › canada-fx-debtCanadian dollar weakens to 7-week low as oil tumbles

   ca.finance.yahoo.com › news › canada-fx-debt

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   2 days ago · TORONTO (Reuters) - The Canadian dollar weakened to a seven-week low against its U.S. counterpart on Tuesday as the price of oil fell 4% and investors reassessed the outlook for Federal Reserve...

5. www.fxstreet.com › news › canadian-dollar-tumblesCanadian Dollar tumbles for sixth straight day - FXStreet

   www.fxstreet.com › news › canadian-dollar-tumbles

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   23 hours ago · The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy,...

6. www.forexcrunch.com › blog › 2024/10/08USD/CAD Price Analysis: Oil Slump Drags CAD Down

   www.forexcrunch.com › blog › 2024/10/08

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   2 days ago · The USD/CAD price analysis suggests further upside for the pair as the Canadian dollar weakens amid a decline in oil prices. Simultaneously, the dollar strengthened as market participants slashed Fed rate cut bets.

7. www.rttnews.com › 3480585 › canadian-dollar-slidesCanadian Dollar Slides As Crude Oil Prices Slide - rttnews.com

   www.rttnews.com › 3480585 › canadian-dollar-slides

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   10 hours ago · The Canadian dollar weakened against other major currencies in the early European session on Thursday, as crude oil prices fell extending recent losses, as data showing an unexpected big jump in crude inventories outweighed possible supply disruptions due to Hurricane Milton and Middle East tensions.

8. www.thespec.com › business › s-p-tsx-compositeS&P/TSX composite slides as oil gives up some of its recent gains

   www.thespec.com › business › s-p-tsx-composite

   2 days ago · TORONTO - Canada’s energy-heavy main stock index sank further into the red on Tuesday, weighed down by retreating oil prices. The S&P/TSX composite index closed down 30.20 points at 24,072.51.

9. www.theglobeandmail.com › investing › marketsBefore the Bell: What every Canadian investor needs to know ...

   www.theglobeandmail.com › investing › markets

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   20 hours ago · Oil prices edged higher, underpinned by a spike in fuel demand as a major storm barrelled into Florida and concerns about potential supply disruptions in the Middle East amid heightened...