# C$ climbs as market shrugs off Bank of Canada 'jawboning'

> The Canadian dollar rose to its strongest level since April 2018, trading near 1.2689 per US dollar. Traders focused on US stimulus progress, with House Speaker Pelosi inviting leaders to finalize a relief deal, and shrugged off Bank of Canada concerns about a strong currency. US crude settled 1.3% higher at $47.62 a barrel.

- Date: 2020-12-15 · published 2020-12-15T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/49870-c-climbs-as-market-shrugs-off-bank-of-canada-jawboning
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker US dollar and stimulus optimism support commodity demand and prices, while a firmer loonie makes Canadian exports less competitive in the US market.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-10-27 | [Bank of Canada Hawkish Tone Sparks Dollar Decline](https://feedsoft.ai/events/44819-bank-of-canada-hawkish-tone-sparks-dollar-decline.md) | +0.5% | +2.3% |
| DXY | 2020-03-09 | [US dollar market sees major sell off as currency traders buy EUR](https://feedsoft.ai/events/10776-us-dollar-market-sees-major-sell-off-as-currency-traders-buy-eur.md) | +3.2% | +6.6% |
| DXY | 2019-01-24 | [Bangkok Post - BoT: Baht climbs as greenback slips](https://feedsoft.ai/events/61345-bangkok-post-bot-baht-climbs-as-greenback-slips.md) | -0.4% | -0.3% |
| DXY | 2022-02-04 | [Euro climbs after ECB's 'ground-breaking' hawkish turn - Markets - Business Recorder](https://feedsoft.ai/events/9874-euro-climbs-after-ecb-s-ground-breaking-hawkish-turn-markets-business-recorder.md) | -0.3% | +1.5% |
| DXY | 2020-08-28 | [Dollar slides as bond market signals rising inflation angst](https://feedsoft.ai/events/51789-dollar-slides-as-bond-market-signals-rising-inflation-angst.md) | -0.5% | +1.0% |
| WTI | 2021-09-30 | [C$ turns weaker as dour Bank of Canada offsets oil surge](https://feedsoft.ai/events/45276-c-turns-weaker-as-dour-bank-of-canada-offsets-oil-surge.md) | +3.5% | +10.2% |
| WTI | 2022-05-01 | [The perfect storm - Bank of Canada](https://feedsoft.ai/events/41648-the-perfect-storm-bank-of-canada.md) | +4.9% | +9.9% |
| WTI | 2020-10-27 | [Canadian Dollar Buoyed by Firmer Oil Prices, Stock Markets ahead of Bank of Canada Decision](https://feedsoft.ai/events/50859-canadian-dollar-buoyed-by-firmer-oil-prices-stock-markets-ahead-of-bank-of.md) | -4.6% | +11.7% |

## Sources

- ca.finance.yahoo.com: https://ca.finance.yahoo.com/news/c-climbs-market-shrugs-off-205310233.html

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