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The U.S. dollar closed above CAD1.35 for the first time since January, though the loonie is still the strongest major currency year-to-date. The Mexican peso has gained 2.6% in 2019, and the S&P 500 has fallen nearly 6% in May on China trade tensions.
Oil slipped toward a two-month low below $57 a barrel.
Risk-off moves tied to trade tensions weigh on crude and on commodity-linked currencies, which affects the cost of Canadian and Mexican commodity exports.
marctomarket.comMay 29, 2019After 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.
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.
Notes oil slipping toward a two-month low below $57 with equities sliding on China trade tensions, consistent with the demand-fear selloff.
