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The Canadian dollar hit a five-month high against the U.S. dollar on Monday as oil prices rose on Middle East tensions and Libyan output cuts. Canada's two largest railways were ordered to halt a work stoppage that had disrupted the economy.
Higher crude prices support Canadian export earnings and the loonie, while the end of the rail stoppage eases grain and oilseed shipping delays out of Western Canada.
ca.finance.yahoo.comFergal SmithAug 26, 2024After 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.
Not enough comparable past events yet for a historical read.
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.
