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The Canadian dollar fell to a five-week low as softer domestic data and lower oil prices weighed on it. US crude was down about 0.6% near $52.63 a barrel, as a stronger dollar and higher Libyan output offset planned OPEC cuts.
The loonie traded around C$1.3542 per US dollar.
A weaker loonie makes Canadian-origin feed and oilseed exports cheaper in US dollar terms, while lower crude reduces biofuel and diesel cost support for vegetable oils.
reuters.comDec 23, 2016After 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.
