Loading…
The Canadian dollar weakened by the most in nearly five weeks against the U.S. dollar as global growth worries grew amid rising coronavirus cases. Oil settled 3.2% lower at $38.56 a barrel and the safe-haven U.S. dollar rose against major currencies.
A weaker loonie and lower oil prices reduce the value of Canadian exports and reflect softer demand expectations, a mild negative for energy-linked commodity sentiment.
financialpost.comReutersOct 26, 2020Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, 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.
