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The Canadian dollar was little changed on Tuesday as investors weighed tentative signs of easing tensions in Ukraine after Russia said it had withdrawn some troops from the border. Oil settled 3.6% lower at $92.07 a barrel.
Markets expected the Bank of Canada to tighten rates for the first time since 2018.
Easing geopolitical tension pulled oil lower, reducing near-term energy cost pressure, though supply risk from Russian energy remains a background factor.
financialpost.comReutersFeb 15, 2022After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% 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.
