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The Canadian dollar hit a one-month high against the US dollar on Monday, trading 0.3% higher at 1.3488 ahead of August inflation data. US crude futures settled 0.8% higher at $91.48, a 10-month high, as global growth optimism improved.
Rising crude and risk sentiment support the loonie, while expectations for hotter Canadian inflation could keep the Bank of Canada tightening, affecting the currency's pricing of Canadian exports.
ca.finance.yahoo.comFergal SmithSep 18, 2023Not enough comparable past events yet for a historical read.
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.
