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The Canadian dollar strengthened by its largest amount in nearly three months after Trump announced a temporary reduction of new tariffs on many countries while raising them on China. Oil settled 4.65% higher at $62.35 a barrel as Wall Street rebounded.
Lower tariff risk improves the global growth outlook and lifts commodity-linked currencies, which can ease the cost of Canadian-origin feed inputs like canola meal and make US exports relatively cheaper to Canadian buyers; the broader tariff pause also supports risk appetite in energy and grains.
theglobeandmail.comFergal SmithMay 1, 2025Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), 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.
