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Canada's economy stalled in August, with GDP flat, as high borrowing costs weighed on business investment and output. The article notes the central bank's third-quarter growth forecast now looks doubtful.
The loonie edged higher that day, trading near 1.389 per U.S. dollar.
Weak Canadian growth points to further central bank rate cuts, which tend to weaken the loonie and shape the currency backdrop for Canadian feed and oilseed exports. The effect on grain and feed prices is indirect.
reuters.comPromit MukherjeeOct 31, 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.
