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The Canadian dollar edged lower against the U.S. dollar on Friday, giving back some of the week's gains as oil prices fell and investors weighed the U.S. coronavirus relief package. U.S. crude settled 1.6% lower at $41.77 a barrel.
Currency moves tied to oil and risk sentiment shift the relative cost of Canadian and US exports, but the effect on feed commodity prices is modest.
theglobeandmail.comFergal SmithOct 23, 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.
