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The Canadian dollar rose to its highest level in more than two weeks against the US dollar as investors priced in aggressive Bank of Canada rate hikes. Canadian headline inflation hit a 31-year high of 6.7% in March, and oil rose on supply concerns tied to a possible EU ban on Russian oil imports.
Higher oil prices and a firmer loonie show a mixed picture for Canadian exporters, and rate-hike expectations signal tighter Canadian financial conditions ahead.
theglobeandmail.comFergal SmithApr 21, 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.
