Loading…
The Canadian dollar gained on Friday as higher oil prices offset damage from protester blockades of key U.S.-Canada border crossings. The IEA said oil markets were tight, and U.S. crude rose 1.1% to $90.87 a barrel.
The loonie was on track for a 0.5% weekly gain after hotter-than-expected U.S. inflation fueled bets on a 50 basis point Fed hike.
Tight oil markets and expected Fed tightening point to higher energy and dollar-linked input costs for feed, with little direct effect on grain supply.
reuters.comFeb 11, 2022After 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.
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.
