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The Canadian dollar ended 2018 with its worst annual performance since 2015, down 7.7 percent, after touching a 19-month low intraday before recovering as oil and stocks rallied. Oil had fallen about 40 percent since October.
A weaker loonie makes Canadian grain and oilseed exports cheaper on world markets, while the oil slump pressures Canadian energy-sector demand and sentiment.
theglobeandmail.comFergal SmithDec 31, 2018Not 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.
