China’s factory and services PMI gauges both drop below 50 as fourth quarter starts on a weak note

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.

• May 26, 2018Loonie sinks to two-week low: Is this the start of another big drop? | CBC News-4.6%
• Aug 1, 2022Oil sinks about 4% after weak factory data sparks demand concerns-9.5%
• Jan 27, 2025Oil hits 2-week low as China's DeepSeek AI spurs demand fears | Reuters-2.8%
• Jan 29, 2020Canadian dollar nears seven-week low as oil prices fall - The Globe and Mail-7.1%
• Oct 16, 2024Oil prices hold at 2-week low on lower oil demand growth forecasts+2.2%

After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.

• Aug 1, 2022Oil sinks about 4% after weak factory data sparks demand concerns-11.9%
• Jan 27, 2025Oil hits 2-week low as China's DeepSeek AI spurs demand fears | Reuters-2.1%
• Oct 16, 2024Oil prices hold at 2-week low on lower oil demand growth forecasts+2.5%
• Jul 12, 2022Brent crude settles below $100/bbl on higher dollar, weak demand outlook+0.7%
• Jul 30, 2024Oil prices slide 1%, settle at 7-week low on China worries-4.3%