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The Canadian dollar strengthened about 0.3% against the US dollar on Monday as safe-haven buying eased and oil fell 3.8% to $82.31 a barrel on fading fears of Israel-Hamas supply disruption. Markets were focused on upcoming central bank meetings.
Lower oil and a firmer loonie reduce energy-linked cost pressure and shift currency flows that can influence Canadian canola and grain export competitiveness.
theglobeandmail.comOct 30, 2023Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, 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.
