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USD/CAD traded near 1.3970 as the US dollar eased on lower safe-haven demand amid Qatari and Iranian talks to end the Middle East war. Crude prices fell after OPEC+ agreed to keep December production targets steady.
Markets priced roughly a 75% chance of a December Fed hike.
Lower crude weighs on biofuel and energy-linked feedstock values and on the commodity-linked Canadian dollar. Rate-hike expectations support the dollar, which can pressure dollar-denominated grain and oilseed prices.
fxstreet.comAkhtar FaruquiNov 2, 2026After 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.
