C$ pares recent gains ahead of Bank of Canada rate decision

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.

• Dec 5, 2018Bank of Canada maintains overnight rate target at 1 ¾ per cent - Bank of Canada-3.0%
• Jan 9, 2019Bank of Canada maintains overnight rate target at 1 ¾ per cent - Bank of Canada+4.5%
• Jan 30, 2023Risk aversion weighs on Canadian dollar ahead of Fed rate decision - The Globe and Mail-7.9%
• Jul 28, 2026Canadian dollar rebounds from two-week low ahead of Fed decision | Reuters+2.0%
• Apr 15, 2020Bank of Canada maintains overnight rate target and unveils new market operations - Bank of Canada-32.0%

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.

• Jan 26, 2022Bank of Canada interest rate decision: what you need to know+0.2%
• Mar 3, 2022Euro extends recent fall, U.S. dollar gains ahead of jobs data+0.7%
• Oct 29, 2025Dollar drifts higher ahead of Fed decision, Aussie gains on CPI | MarketScreener+1.0%
• Apr 29, 2026South African rand falls more than 1% ahead of Fed decision | Reuters-0.1%
• Oct 14, 2022Bank of Canada says persistent U.S. dollar strength could force interest rates higher+0.2%

Not enough comparable past events yet for a historical read.