Canadian dollar dips as Omicron variant concerns offset GDP gain

After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

• Jan 31, 2024Canadian dollar weakens as Fed rate signal offsets GDP gain - The Globe and Mail-6.0%
• Oct 31, 2022Canadian dollar slips to six-day low as oil prices fall - The Globe and Mail+5.4%
• Aug 31, 2021Canadian dollar steadies after ‘limited’ reaction to GDP miss - The Globe and Mail-1.2%
• Dec 1, 2020Canadian dollar strengthens as economy grows at a record pace - The Globe and Mail+1.1%
• May 1, 2019Canadian dollar weakens as Fed inflation view boosts greenback - The Globe and Mail-3.8%

After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.

• Dec 20, 2018The Canadian dollar and the price at the gas pump: Why you can’t win for losing - The Globe and Mail-8.1%
• May 1, 2023Oil drops 1% as economic growth concerns offset OPEC+ cuts-6.0%
• Jul 20, 2021Oil extends decline as concerns over Covid-19 variant mount | The National+8.2%
• Mar 19, 2021Oil battered in ugly week as demand concerns, dollar spur slump-1.8%
• Jul 18, 2022Recession concerns, dollar demand clamp down on commodity market-1.5%

Not enough comparable past events yet for a historical read.