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The Canadian dollar weakened to a six-week low on Wednesday as oil prices fell and investors focused on the USMCA review of the continental trade pact. The loonie traded around 1.3830 per US dollar.
USMCA headline risk and lower oil prices pressure the loonie, which can affect Canadian canola and feed grain export competitiveness.
Not enough comparable past events yet for a historical read.
After 80 past bearish trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.