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The Canadian dollar edged higher against the US dollar, recovering from a near four-week low, as oil rose about 3.9% to $97.94 a barrel. Oil gained after Shanghai eased some COVID-19 restrictions and OPEC said it could not replace potential Russian supply losses.
US core CPI rose 6.5% year on year, slightly below expectations.
Higher crude on supply risk and easing China lockdowns lifts energy costs and supports biofuel-linked demand for vegetable oils and grains.
brecorder.comReutersApr 13, 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.
