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The Canadian dollar dipped against the US dollar as a US hedge fund default hurt risk appetite, with the loonie trading near 1.2592 per greenback. US crude rose 0.3% to $61.12 a barrel on expectations OPEC+ would hold output steady in May.
Risk-driven dollar strength can weigh on Canadian dollar-denominated commodity prices. Steady OPEC+ output keeps crude supported, which matters for energy costs in feed logistics.
brecorder.comReutersMar 29, 2021Not enough comparable past events yet for a historical read.
After 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.
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.
