# Canadian dollar pares earlier gains as risk appetite falls ahead of Fed conference - The Globe and Mail

> The Canadian dollar steadied against the U.S. dollar and pared earlier gains as investor risk appetite fell ahead of a Federal Reserve conference. U.S. stocks were mixed after the first contraction in U.S. manufacturing in nearly a decade. U.S. crude fell 0.6% to $55.35 a barrel, and the market awaited Fed Chair Powell's Jackson Hole speech.

- Date: 2019-08-22 · published 2019-08-22T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/57824-canadian-dollar-pares-earlier-gains-as-risk-appetite-falls-ahead-of-fed
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Weaker oil and risk sentiment tend to lift the U.S. dollar against the loonie, which affects the cost of Canadian-origin products priced in dollars. The market is waiting on Fed guidance, so the direction is unclear.

## Read by commodity

- USDCAD: neutral

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/investing/markets/inside-the-market/market-news/article-canadian-dollar-rises-as-oil-prices-increase-powell-speech-in-focus/

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