# Canadian dollar gains as stimulus hopes boost Wall Street | Financial Post

> 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.

- Date: 2021-01-19 · published 2021-01-19T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/49373-canadian-dollar-gains-as-stimulus-hopes-boost-wall-street-financial-post
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

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.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-02-02 | [Canadian dollar beats G10 rivals on rising U.S. stimulus hopes \| Financial Post](https://feedsoft.ai/events/48900-canadian-dollar-beats-g10-rivals-on-rising-u-s-stimulus-hopes-financial-post.md) | +8.2% | +11.5% |
| WTI | 2020-10-08 | [Canadian dollar rallies on higher oil prices, U.S. stimulus hopes \| Financial Post](https://feedsoft.ai/events/50857-canadian-dollar-rallies-on-higher-oil-prices-u-s-stimulus-hopes-financial-post.md) | +2.7% | -2.1% |
| WTI | 2021-12-10 | [Canadian dollar set to end weekly losing streak as oil rallies \| Financial Post](https://feedsoft.ai/events/43855-canadian-dollar-set-to-end-weekly-losing-streak-as-oil-rallies-financial-post.md) | +2.1% | +11.4% |
| WTI | 2022-08-23 | [Canadian dollar snaps losing streak as oil prices jump \| Financial Post](https://feedsoft.ai/events/40272-canadian-dollar-snaps-losing-streak-as-oil-prices-jump-financial-post.md) | +5.3% | -8.4% |
| WTI | 2020-02-19 | [Canadian dollar gains as oil rallies on Chinese stimulus hopes - The Globe and Mail](https://feedsoft.ai/events/54806-canadian-dollar-gains-as-oil-rallies-on-chinese-stimulus-hopes-the-globe-and.md) | -4.3% | -48.2% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/canadian-dollar-gains-as-stimulus-hopes-boost-wall-street

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