Canadian dollar notches monthly gain as commodity currencies rally

Not 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.

• Feb 10, 2023Canadian dollar notches biggest gain among G10 currencies after blockbuster jobs report - The Globe and Mail+0.5%
• May 31, 2021Canadian dollar on track for monthly gain as current account swings to surplus - The Globe and Mail+4.4%
• Jul 28, 2021Canadian dollar gains as Fed readies new money market facilities - The Globe and Mail-1.5%
• May 18, 2021Canadian exporters rejig currency hedges as commodities boom - The Globe and Mail-0.2%
• Feb 19, 2020Canadian dollar gains as oil rallies on Chinese stimulus hopes - The Globe and Mail-4.3%

After 323 past bullish macro events, BRENT moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.

• Aug 24, 2021Dollar slips further as oil rallies, commodity currencies gain | Reuters+5.7%
• Nov 29, 2021Canadian dollar rallies as air of calm returns to financial markets - The Globe and Mail-3.1%
• May 11, 2021Commodity currencies hold advantage as dollar waits for inflation and Fed | Reuters+1.6%
• Jun 30, 2017Canadian Dollar Exchange Rates Boosted As GDP Comes In On Forecast And Oil Boosts The CAD+2.3%
• Jan 29, 2024Canadian Dollar hesitates with Canada GDP, US Fed rate call in the pipe-6.0%