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The Canadian dollar held near a four-week high on March 29 as fears eased over the global banking crisis and oil prices rose. Traders awaited clues on the Bank of Canada's policy outlook and speculators held heavy bearish loonie bets.
Improved risk appetite and firmer oil prices support the loonie, and extreme bearish positioning raises the chance of short covering that would push USD/CAD lower.
theglobeandmail.comFergal SmithMar 29, 2023Not 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.
