Loading…
Scotiabank says the Bank of Canada could cut rates sooner than it did during SARS if the coronavirus hits the economy. Bank of Nova Scotia also noted that Air Canada suspended direct flights to China.
Possible earlier rate cuts would weaken the Canadian dollar, while virus-related travel and demand disruption adds downside risk to oil and trade.
theglobeandmail.comMichael BabadJan 29, 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.
