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The Canadian dollar gained alongside firmer oil prices and recovering US equities ahead of the Bank of Canada decision. Analysts noted the loonie was outperforming G10 peers, possibly due to rising oil.
Oil-driven currency strength reflects improved energy demand expectations, a minor factor for feed commodity buyers.
poundsterlinglive.comNews, Data, ForecastsOct 27, 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.
