
The Canadian dollar posted its biggest decline in nearly three months on Tuesday, falling 0.7% to 1.3325 per US dollar. Oil fell on rate jitters and easing Red Sea supply concerns, while Canada's December manufacturing PMI dropped to 45.4, its lowest since May 2020.
Weak Canadian factory data and softer oil reduce loonie strength and signal softer Canadian industrial demand, with limited direct feed price effects.
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.
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.