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The Canadian dollar fell 0.4% against the US dollar on Friday after US consumer prices rose faster in April, with underlying inflation well above the Federal Reserve's 2% target. The loonie was set to snap a long run of weekly gains.
US crude rose 0.6% to $67.26 a barrel.
Stronger US inflation data supports the dollar and firms oil, which affects the cost of energy-linked inputs such as diesel and fertiliser. The Bank of Canada's policy outlook is also in focus.
brecorder.comReutersMay 28, 2021After 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.
