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The Canadian dollar strengthened to its highest level in about 2.5 months on Wednesday as risk appetite rose on hopes for a global recovery. US crude futures settled 4.5% lower at $32.81 a barrel, pressured by US-China tensions.
Stronger risk appetite and a weaker US dollar support the loonie, while the crude pullback reflects tensions that could weigh on energy-linked prices.
theglobeandmail.comFERGAL SMITHMay 27, 2020After 565 past bearish macro events, WTI moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
