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The Canadian dollar fell 0.4 percent to 1.3169 per US dollar on October 31, its weakest since September 9, as weak oil prices and global growth concerns hit commodity currencies. The loonie has dropped 1.9 percent so far this month, and US-China trade and Iran sanctions are also in focus.
Weaker commodity currencies and softer crude reduce energy input costs but signal slower global growth, which can pressure demand for feed commodities.
investorsking.comSamed OlukoyaOct 31, 2018After 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.
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.
