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The Canadian dollar strengthened against the US dollar on Friday after Canadian GDP grew 0.2% in July, above the 0.1% expected. USD/CAD fell more than 100 pips toward 1.2909 as crude oil rallied, with WTI up over 1.5% to about $73.50, a two-month high.
A firmer loonie and higher crude reflect strong Canadian economic data and energy prices; for feed buyers this is a macro currency move with little direct effect on grain or meal prices.
octaafrica.netSep 28, 2018Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
