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The Canadian dollar fell to a six-day low of about 1.2833 per US dollar ahead of Federal Reserve minutes. US crude was up 0.6% at $110.38 a barrel, and Canadian 10-year yields dropped to 2.743% before recovering.
A weaker loonie raises the cost of Canadian-sourced goods priced in US dollars. Stronger US dollar pressure can dampen dollar-denominated commodity prices.
financialpost.comReutersMay 25, 2022Not enough comparable past events yet for a historical read.
After 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.
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.
