The Canadian Dollar Is Unprepared for Coronavirus Impact on Bank of Canada Outlook

Not 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.

• Apr 5, 2022Canadian dollar pulls back from 5-month high on hawkish Fed outlook-8.8%
• Dec 21, 2020Canadian dollar falls by most since October as new virus strain clouds outlook - The Globe and Mail-3.1%
• Mar 18, 2021Oil hits skids, drops 7% on worsening outlook for coronavirus in Europe-5.3%
• Mar 26, 2024Canadian dollar steadies as Bank of Canada frets about productivity shortfall - The Globe and Mail+4.2%
• Mar 31, 2022Canadian dollar shrugs off the oil drop-10.6%