During Tuesday and Wednesday, November 19-20, the US Dollar appreciated 123 pips or 0.93% against the Canadian Dollar.
Before the advance, the Canadian Dollar extended gains against the Greenback. Note that the Canadian Manufacturing Sales data was published at 13:30 GMT. Also, the US Building Permits data was released at the same time. As both data came out better-than-expected, the releases did not affect the USD/CAD currency pair.
Economic calendar
Most likely, the movement was triggered by a strike of the Canadian National Railway Co. employees. The Alberta province government has already called the Prime Minister Justin Trudeau to recall the Parliament and enact legislation to end the strike. According to reporters, the strike could negatively affect the Alberta economy, as the Canadian National Railway Co. ships more than 170,000 barrels of the Canadian oil per day.
Moreover, according to some analysts, the Canadian Dollar was pressured by oil weakness, as income from the lower price in USD decreases the income of the rest of oil exports.