◂ Event Timeline

Jun 24, 2020MACROCanada

C$ dips as pickup in coronavirus cases weighs on sentiment

The Canadian dollar weakened 0.1% against the US dollar on June 24 as rising coronavirus cases in several countries hit stock markets and oil. US crude fell 0.9% to $39.99 a barrel on record inventories and second-wave worries.

A Reuters poll also projected slower Canadian house price growth.

WHY IT MATTERS

Renewed virus spread weighs on fuel demand and risk sentiment, pressuring crude and the loonie. The impact on feed commodity prices is indirect.

AFFECTSCanadian Dollar (CAD per USD)▲Crude Oil (WTI)▼

SOURCE
financialpost.comReutersJun 24, 2020

Price reaction & history

Canadian Dollar (CAD per USD)▲bullish

Not enough comparable past events yet for a historical read.

Crude Oil (WTI)▼bearishSO FAR1d -6.1%5d -2.8%20d +3.7%

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.

Mar 30, 2020Corn slumps as ethanol makers feel coronavirus constraints | Financial Post+64.1%
Jul 19, 2021U.S. dollar, yen climb as Delta variant crushes risk sentiment | Financial Post+0.6%
Oct 21, 2021Canadian dollar falls by most in three weeks as oil stumbles | Financial Post-1.9%
Oct 26, 2020Canadian dollar hits 10-day low as virus clips global outlook | Financial Post-10.3%
Jul 28, 2020Colombian peso hits lowest in a month on weak oil price | Financial Post-1.5%

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.

Canadian Dollar (CAD per USD) USDCAD · GP ▸

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Crude Oil (WTI) WTI · GP ▸

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