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The Canadian dollar fell on Friday, adding to a weekly decline as oil prices dropped. Foreign investors sold a net C$22.3 billion of Canadian securities in September, the largest divestment since 2018.
Canadian producer prices rose 2.4% in October, and US crude fell 3.7% to $78.62 a barrel.
Lower oil prices on weaker China demand and Fed rate-hike expectations pressure energy costs, which feed into transport and fuel expenses for feed producers. Currency weakness mainly reflects capital flows and energy prices.
financialpost.comReutersNov 18, 2022After 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.
Not 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.
