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The USD/CAD pair fell below 1.3800 as Canadian GDP beat forecasts and WTI crude rose about $2.43 to $77.17. Markets priced a high probability of a third Bank of Canada cut on September 4 ahead of the Fed decision.
Higher oil and a firmer loonie reflect stronger Canadian economic conditions, while rate-cut pricing on both sides shapes currency flows that affect USD-denominated commodity trade.
investinglive.comJul 31, 2024Not 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.
