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USD/CAD was almost unchanged at 1.3350 in early trading. West Texas crude fell to $47.05, its lowest since late November, after a 5.0 million barrel US inventory build.
OPEC was considering extending its production cut by six months.
Weaker crude is pressuring the Canadian dollar and signals rising US supply, which keeps energy-linked price pressure on the market.
actionforex.comMarketPulseMar 27, 2017After 565 past bearish macro events, 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.
