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The Canadian dollar weakened as the US dollar recovered on expectations of further Federal Reserve tightening and renewed US-Iran hostilities. USD/CAD edged above 1.4000 after the US military completed a wave of strikes against Iranian targets.
Oil prices were volatile, with supply concerns supporting crude.
A firmer US dollar and higher oil prices raise the cost of imported feed ingredients for Canadian buyers and support energy-linked input costs. The effect on grain and meal prices is limited.
fxstreet.comHaresh MenghaniJul 31, 2026Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
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.
