Loading…
USD/CAD was hovering near 1.2800 ahead of US PCE inflation data and Canadian GDP. The US dollar index fell after weak US GDP data triggered recession fears, and Canadian GDP was expected to contract in May.
A softer US dollar and recession concerns shift currency flows and can support dollar-priced commodities, while weak growth signals softer demand for energy and industrial inputs.
octaafrica.netJul 29, 2022After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
