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The Canadian dollar strengthened against the U.S. dollar as markets reacted to a Bank of Japan move widening the allowable band for long-term yields, and Canadian October retail sales rose 1.4%, close to forecasts. Oil rose 1.1% to $76.05 a barrel, helped by U.S. plans to restock petroleum reserves.
A firmer loonie and higher crude mildly affect Canadian export pricing and feed costs priced in U.S. dollars; the currency move is a modest factor for Canadian-origin feed commodities.
theglobeandmail.comReutersDec 20, 2022Not 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.
