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The Canadian dollar weakened after ADP reported 237,000 US private payroll gains and US second-quarter GDP was revised up to 3.0%. Hurricane Harvey has taken roughly 24% of US refining capacity offline, pushing gasoline up while crude fell on a supply glut.
A stronger US dollar and a refinery outage that weighs on crude prices both pressure Canadian-dollar-linked commodity values, while gasoline strength reflects refined-product tightness rather than crude scarcity.
actionforex.comMarketPulseAug 31, 2017Not 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.
