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The Canadian dollar rebounded from a three-week low on September 9 after the Bank of Canada held its key rate at 0.25% and did not add stimulus. Equity markets and oil also rallied, with U.S. crude settling 3.5% higher at $38.05 a barrel.
The loonie traded 0.6% higher at about 1.3153 per U.S. dollar.
A stronger loonie on oil and equity gains raises the U.S.-dollar cost of Canadian exports. The rally in crude also supports energy-linked costs for feed production and transport.
finance.yahoo.comFergal SmithSep 9, 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.
