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The Canadian dollar was on track for its best monthly gain of 2024 and options traders expected further appreciation despite a weak Canadian economy. The Bank of Canada was poised to cut rates for a third time in 2024.
A firmer loonie reflects currency positioning and rate-cut expectations rather than commodity supply or demand. The effect on feed prices is limited.
bloomberg.comGeorge Lei, Carter JohnsonSep 3, 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.
