Loading…
The Canadian dollar weakened toward a seven-week low as U.S. crude futures fell 0.7% to $53.12 a barrel. Investors were also awaiting a Federal Reserve rate decision that was not expected to change rates.
Weaker oil on virus-driven demand fears pressures Canadian dollar and energy-linked trade, with limited direct effect on feed commodities.
theglobeandmail.comReutersJan 29, 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.
