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Statistics Canada reported GDP grew 0.3 percent in October, faster than forecast, led by manufacturing. Oil and gas extraction rose 3.6 percent, while Alberta ordered production cuts in January that could slow growth.
Stronger Canadian growth reduces the urgency of rate cuts and supports the loonie, while Alberta's production cuts signal weaker energy demand ahead.
ttnews.comGreg QuinnDec 21, 2018After 171 past bearish report events, WTI moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.
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.
