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The Canadian dollar hit a one-week low against the US dollar on Monday as anti-lockdown protests in China weighed on sentiment. Canada posted a third-quarter current account deficit of C$11.1 billion.
US crude fell 2.6% to $74.31 a barrel as China growth worries hit stocks and oil.
Concern over China's growth outlook lowers expected demand for oil and commodities, which pressures energy costs and softens sentiment for feed commodities. The move reflects broader market risk aversion.
brecorder.comReutersNov 28, 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.
