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The Canadian dollar neared a three-week high as energy prices and positive risk appetite lifted the loonie. US natural gas reached $9.30 per MMBtu, its highest since 2008, and US inventories rose 80 bcf against 89 bcf expected.
Tight US natural gas supply raises energy costs for grain drying and processing, and supports energy-linked currency flows. Housing weakness in Canada is cited as the main near-term headwind for the loonie.
investinglive.comAdam ButtonMay 26, 2022After 155 past bullish macro events, Natural Gas moved a median +0.1% over 5 sessions (51% higher; middle half -4.0% to +7.1%), and +2.0% 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.
