Canadian dollar weakens as Fed rate signal offsets GDP gain

Not enough comparable past events yet for a historical read.

After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

• Feb 15, 2023Canadian dollar weakens as U.S. data boosts Fed rate hike prospects - The Globe and Mail-6.5%
• Nov 30, 2021Canadian dollar dips as Omicron variant concerns offset GDP gain - The Globe and Mail-0.5%
• May 1, 2019Canadian dollar weakens as Fed inflation view boosts greenback - The Globe and Mail-3.8%
• Apr 17, 2023Canadian dollar slips, pressured by Fed rate hike bets - The Globe and Mail-5.7%
• Jan 30, 2023Risk aversion weighs on Canadian dollar ahead of Fed rate decision - The Globe and Mail-7.9%

After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

• Feb 15, 2023Canadian dollar weakens as U.S. data boosts Fed rate hike prospects - The Globe and Mail+0.8%
• Nov 8, 2018Canadian dollar hits eight-week low as U.S. Fed affirms rate hike policy - The Globe and Mail+1.0%
• Feb 13, 2018The pain trade: Why the Canadian dollar is aching - The Globe and Mail-0.4%
• Oct 31, 2022Canadian dollar slips to six-day low as oil prices fall - The Globe and Mail-0.1%
• Sep 26, 2025Canadian dollar posts largest weekly decline since February against resurgent US counterpart - The Globe and Mail-0.1%