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The Canadian dollar eased from a four-month high ahead of Canada's CPI release, while oil settled 1.5% higher at $72.47 a barrel after Houthi attacks disrupted Red Sea shipping. Markets awaited inflation data expected to show a slowdown to 2.9%.
Red Sea disruption raises shipping and energy costs, supporting oil and freight prices that feed into feed ingredient landed costs.
theglobeandmail.comDec 18, 2023After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% 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.
