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The Canadian dollar rose against the US dollar on Tuesday as prospects of US fiscal stimulus boosted risk appetite. Prime Minister Trudeau pressed the incoming Biden administration to keep the Keystone XL pipeline, and Canadian factory sales fell 0.6% in November.
Stronger risk appetite and firm oil prices support the loonie, which raises the US-dollar cost of Canadian feed exports. The pipeline issue bears on Canadian energy export flows.
financialpost.comReutersJan 19, 2021Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, WTI moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
