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The Canadian dollar strengthened against the U.S. dollar as Wall Street rallied and a Bank of Canada survey showed elevated inflation expectations, supporting further rate hikes. Business sentiment softened, with most firms expecting a recession.
A stronger loonie and risk-on equity moves can ease pressure on dollar-priced commodities, though recession expectations point to weaker demand. The impact on feed markets is modest.
theglobeandmail.comFergal SmithOct 17, 2022Not enough comparable past events yet for a historical read.
After 102 past neutral macro events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% 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.
