# Canadian dollar climbs to one-week high as virus fears ebb | Financial Post

> The Canadian dollar rose to a one-week high against the US dollar as China reported its lowest daily count of new coronavirus cases since late January. Oil and global stocks climbed on hopes that Chinese fuel demand would recover. U.S. crude was up 1.7% at $50.77 a barrel.

- Date: 2020-02-12 · published 2020-02-12T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/54807-canadian-dollar-climbs-to-one-week-high-as-virus-fears-ebb-financial-post
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Easing virus concerns support oil demand expectations and lift commodity-linked currencies such as the loonie. For feed markets the effect is indirect, through energy costs and risk sentiment.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-07-30 | [Canadian dollar climbs to 7-week high on NAFTA optimism, oil rally - Financial Post](https://feedsoft.ai/events/64254-canadian-dollar-climbs-to-7-week-high-on-nafta-optimism-oil-rally-financial-post.md) | -0.3% | +1.0% |
| WTI | 2021-09-28 | [Canadian dollar retreats from 3-week high as bond yields climb \| Financial Post](https://feedsoft.ai/events/45281-canadian-dollar-retreats-from-3-week-high-as-bond-yields-climb-financial-post.md) | +2.8% | +11.7% |
| WTI | 2022-06-07 | [Canadian dollar hits a 7-week high as yield spreads widen \| Financial Post](https://feedsoft.ai/events/41183-canadian-dollar-hits-a-7-week-high-as-yield-spreads-widen-financial-post.md) | +2.1% | -15.8% |
| WTI | 2016-12-12 | [Canadian dollar posts fresh seven-week high as oil climbs \| Reuters](https://feedsoft.ai/events/73701-canadian-dollar-posts-fresh-seven-week-high-as-oil-climbs-reuters.md) | +0.8% | -1.3% |
| WTI | 2020-12-02 | [Canadian dollar notches a 2-year high on higher oil prices \| Financial Post](https://feedsoft.ai/events/49875-canadian-dollar-notches-a-2-year-high-on-higher-oil-prices-financial-post.md) | +2.4% | +8.4% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/canadian-dollar-climbs-to-one-week-high-as-virus-fears-ebb

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