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The Canadian dollar strengthened to a two-week high as currency volatility fell and investors became more willing to hold commodity-linked currencies. US crude settled 8.4% higher at $102.98 a barrel on renewed supply concerns from sanctions on Russia.
Improved risk appetite and firmer oil support commodity-currency flows, lowering the loonie-denominated cost of US dollar feed imports.
theglobeandmail.comReutersMar 17, 2022After 487 past bullish macro events, 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.
US crude settled 8.4% higher at $102.98 on March 17 on renewed sanctions-driven supply concerns, a big up-leg early in the window.
