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The Canadian dollar was little changed near 1.3535 per US dollar after a nine-day low, as oil prices rose to a four-month high and traders awaited February CPI. Canadian home sales fell 3.1% in February.
Higher crude prices support the loonie, a major commodity currency, while the CPI data shapes rate-cut expectations. The effect on feed grain prices is indirect.
kitco.comMar 18, 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.
