# Canadian Dollar to Rise Further, RBC Financial Model Shows

> The Canadian dollar gained 2.2% against the US dollar in June, and an RBC financial model points to USD/CAD moving below 1.30 in the short term. The move was helped by rising oil prices after a Philadelphia refinery fire.

- Date: 2019-06-26 · published 2019-06-26T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/58834-canadian-dollar-to-rise-further-rbc-financial-model-shows
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A stronger loonie driven partly by oil can reduce Canadian export competitiveness for grains and oilseeds priced in US dollars.

## Read by commodity

- WTI: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-11-29 | [Canadian dollar rallies as air of calm returns to financial markets - The Globe and Mail](https://feedsoft.ai/events/44263-canadian-dollar-rallies-as-air-of-calm-returns-to-financial-markets-the-globe.md) | -11.3% | +1.0% |
| 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 | 2021-01-29 | [Canadian dollar rallies as economy grows faster than anticipated \| Financial Post](https://feedsoft.ai/events/49367-canadian-dollar-rallies-as-economy-grows-faster-than-anticipated-financial-post.md) | +7.5% | +17.7% |
| WTI | 2022-04-13 | [Canadian dollar recovers - Business & Finance - Business Recorder](https://feedsoft.ai/events/42110-canadian-dollar-recovers-business-and-finance-business-recorder.md) | +2.1% | +5.0% |
| 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% |

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/cad/11587-canadian-dollar-to-rise-even-further-says-rbc

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