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The Canadian dollar rose to a more than two-week high as oil settled 3.1% higher at $41.19 a barrel on output shutdowns ahead of a Gulf storm. Hopes for US fiscal stimulus also supported risk assets, while Canadian housing starts fell 20% in September.
Higher oil prices from Gulf supply disruptions and stimulus hopes support energy and risk sentiment, though the link to feed grain prices is indirect.
financialpost.comReutersOct 8, 2020Not 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.
