# Canadian dollar climbs to two-month high as greenback slides - The Globe and Mail

> The Canadian dollar rose to a near two-month high against the US dollar as the greenback broadly fell ahead of a Federal Reserve meeting. Investors weighed the implications of a possibly divided US Congress for stimulus, and oil traded near $38.88 a barrel.

- Date: 2020-11-05 · published 2020-11-05T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/50389-canadian-dollar-climbs-to-two-month-high-as-greenback-slides-the-globe-and-mail
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

This is a currency-driven move with no direct effect on feed supply or demand. Weaker USD and a lower oil price have limited direct impact on feed commodity prices.

## Read by commodity

- WTI: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-07-30 | [Canadian dollar rises to six-week high as greenback slides - The Globe and Mail](https://feedsoft.ai/events/18588-canadian-dollar-rises-to-six-week-high-as-greenback-slides-the-globe-and-mail.md) | -10.1% | +2.3% |
| WTI | 2020-05-27 | [Canadian dollar advances to 2½-month high as risk appetite climbs - The Globe and Mail](https://feedsoft.ai/events/53359-canadian-dollar-advances-to-21-2-month-high-as-risk-appetite-climbs-the-globe.md) | +6.6% | +16.8% |
| WTI | 2020-02-03 | [Canadian dollar slides to two-month low as China virus hits oil demand - The Globe and Mail](https://feedsoft.ai/events/54810-canadian-dollar-slides-to-two-month-low-as-china-virus-hits-oil-demand-the.md) | -2.4% | -9.3% |
| WTI | 2019-04-26 | [Canadian dollar rises as U.S. growth composition weighs on greenback - The Globe and Mail](https://feedsoft.ai/events/59816-canadian-dollar-rises-as-u-s-growth-composition-weighs-on-greenback-the-globe.md) | -5.3% | -11.5% |
| WTI | 2023-05-31 | [Canadian dollar pares monthly decline as rate hike bets climb - The Globe and Mail](https://feedsoft.ai/events/36178-canadian-dollar-pares-monthly-decline-as-rate-hike-bets-climb-the-globe-and-mail.md) | +3.3% | +0.1% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-climbs-to-two-month-high-as-greenback-slides/

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