Loading…
The Canadian dollar fell as much as 0.7% to C$1.3267 per US dollar after weaker-than-expected fourth-quarter GDP data. Oil prices slid 1.7%, adding pressure.
Traders reduced bets on a Bank of Canada rate hike this year.
A weaker loonie and lower oil reduce Canadian energy-linked demand and make Canadian-origin feed and oilseed products cheaper in USD terms, while a weaker CAD supports Canadian exporters' competitiveness.
bloomberg.comJustina VasquezMar 1, 2019Not 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.
