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The Canadian dollar strengthened about 0.3% to 1.4350 per US dollar on Friday after US inflation data, paring a weekly decline of 0.8%. It was still its fourth straight weekly loss, after pressure from a hawkish Federal Reserve and domestic political turmoil in Canada.
A weaker loonie makes Canadian grain, oilseed and canola exports cheaper in US dollar terms, which can support Canadian export competitiveness. The currency move is a modest factor for North American feed commodity prices.
reuters.comFergal SmithDec 20, 2024Not 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.
