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Canada's economy contracted 0.1% in November, in line with expectations, after a 0.3% rise in October. Weakness in wholesale, manufacturing and construction offset gains elsewhere, and economists see the Bank of Canada on hold.
The Canadian dollar still held the top spot among G10 currencies as oil rebounded.
A slowing Canadian economy and a steady central bank keep the loonie driven by oil, which affects Canadian energy-linked costs and the currency value of Canadian commodity exports.
poundsterlinglive.comJames SkinnerJan 31, 2019Not enough comparable past events yet for a historical read.
After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% 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.
