Loading…
The Canadian dollar weakened 0.6% against the US dollar on June 11 as world shares fell after a gloomy Federal Reserve outlook. Oil dropped 6.6% to $36.97 a barrel amid a record US crude inventory build.
Canadian bond yields fell and Ottawa is rolling out over C$150 billion in direct aid.
A weaker oil price and risk-off sentiment pressure the loonie and energy-linked costs. The Fed's outlook affects broader markets, but the direct feed price impact is small.
financialpost.comReutersJun 11, 2020Not enough comparable past events yet for a historical read.
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.
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.
