Oil up 1% on economic hope; virus fears check price gains

After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.

• Aug 22, 2024Oil prices settle $1 up on hopes of a US Fed rate cut next month | Reuters+2.5%
• Nov 10, 2021Canadian dollar outperforms G10 peers as oil clings to recent gains | Financial Post-2.4%
• Apr 30, 2018Will oil prices be the trigger that wakes the inflation beast? - Financial Post-0.2%
• Jan 10, 2023OPEC pricing power limits downside risks to oil prices, Goldman says | Financial Post+6.9%
• Dec 24, 2024Oil prices up on US growth data+3.1%

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.

• Nov 22, 2022C$ rises as October flash economic estimates show gains | Financial Post-2.1%
• Oct 8, 2020Canadian dollar rallies on higher oil prices, U.S. stimulus hopes | Financial Post+2.7%
• Feb 12, 2020Canadian dollar climbs to one-week high as virus fears ebb | Financial Post+6.6%
• May 26, 2023Chile's peso leads gains on copper price boost, Mexico's peso at one-week high | Financial Post+0.0%
• Dec 2, 2020Canadian dollar notches a 2-year high on higher oil prices | Financial Post+2.4%

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

• Nov 22, 2022C$ rises as October flash economic estimates show gains | Financial Post-0.8%
• Jun 8, 2020Dollar dips as commodity currencies gain on recovery hopes | Financial Post+0.7%
• Apr 30, 2020Gold rebounds on Fed's rate decision, ECB stimulus hopes | Financial Post+0.7%
• Jul 29, 2026ING Says Dollar to Take Cue from Oil Prices If Fed Holds Rate | Financial Post-0.9%
• Aug 31, 2022Most Asian FX rises; Thai baht, equities gain on growth view | Financial Post+0.9%