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The USD/CAD pair held support near 1.3520 on August 31 as the US dollar recovered ahead of core PCE inflation data. Canada's Q2 GDP grew 0.3%, slower than Q1's 0.8%, and oil rallied above $82.
Firmer oil supports the loonie and Canadian export commodity values, while a stronger dollar on sticky US inflation keeps pressure on dollar-denominated feed prices.
octaafrica.netAug 31, 2023Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, WTI moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
