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The Canadian dollar fell 0.4% to 1.3485 per U.S. dollar on December 2 after stronger-than-expected U.S. jobs data, and it lost 0.8% for the week. Canada added 10,100 jobs in November and the jobless rate fell to 5.1%, while U.S. crude settled 1.5% lower at $79.98 a barrel ahead of an OPEC+ meeting.
Stronger U.S. labour data supports the dollar and pressures oil, which lowers the cost of dollar-priced feed imports for non-U.S. buyers while weighing on energy-linked commodity values.
financialnewsletter.comReutersDec 2, 2022Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
