The Canadian dollar eased on Monday after crude oil pared early highs on Red Sea headlines and China growth concerns. Houthi rebels struck a commercial tanker in the Red Sea over the weekend, and markets priced in expected retaliation.
Canadian GDP and the Fed rate decision are due Wednesday.
Red Sea escalation lifts crude and freight costs, which raise feed transport and energy input costs, though the story is mainly currency commentary.
Not enough comparable past events yet for a historical read.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.
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.