Canadian dollar hits eight-week low as U.S. Fed affirms rate hike policy

Not 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.

• Feb 15, 2023Canadian dollar weakens as U.S. data boosts Fed rate hike prospects - The Globe and Mail-6.5%
• Feb 1, 2023Canadian dollar posts 2½-month high as stocks rally after Fed rate hike - The Globe and Mail-2.2%
• Apr 17, 2023Canadian dollar slips, pressured by Fed rate hike bets - The Globe and Mail-5.7%
• Apr 24, 2018Canadian dollar steadies near three-week low as U.S. 10-year yield hits 3 per cent - The Globe and Mail+0.9%
• Jan 31, 2024Canadian dollar weakens as Fed rate signal offsets GDP gain - The Globe and Mail-6.0%

After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

• Feb 15, 2023Canadian dollar weakens as U.S. data boosts Fed rate hike prospects - The Globe and Mail+0.8%
• Apr 24, 2018Canadian dollar steadies near three-week low as U.S. 10-year yield hits 3 per cent - The Globe and Mail+0.4%
• Jan 31, 2024Canadian dollar weakens as Fed rate signal offsets GDP gain - The Globe and Mail+0.3%
• Mar 12, 2017Canadian bonds, loonie brace for U.S. Federal Reserve rate hike - The Globe and Mail-1.1%
• Oct 31, 2022Canadian dollar slips to six-day low as oil prices fall - The Globe and Mail-0.1%