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The Canadian dollar was the weakest major currency on Monday as crude oil resumed steep declines. Global stock markets fell sharply as coronavirus cases rose in South Korea and Italy.
Traders began pricing a third Federal Reserve rate cut this year.
Falling oil prices and risk-off flows tend to weaken commodity currencies and pressure energy costs. Feed buyers should watch energy-linked input costs.
forex.caadminFeb 25, 2020After 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.
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.
