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The Canadian dollar edged higher against the US dollar as US crude rose 1.7% to $113.64 a barrel. Global stocks fell on fears that central banks would trigger a recession, and markets expected a 75bp Bank of Canada hike in July.
Oil strength supports the loonie, but growth worries cap gains; for feed buyers the currency move is a minor macro factor with little direct grain price effect.
brecorder.comReutersJun 30, 2022After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
