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The Canadian dollar rose to a near two-month high against the US dollar as the greenback broadly fell ahead of a Federal Reserve meeting. Investors weighed the implications of a possibly divided US Congress for stimulus, and oil traded near $38.88 a barrel.
This is a currency-driven move with no direct effect on feed supply or demand. Weaker USD and a lower oil price have limited direct impact on feed commodity prices.
theglobeandmail.comReutersNov 5, 2020Not enough comparable past events yet for a historical read.
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.
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.
