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Canada's annual inflation rate eased to a 40-month low of 2.5% in July, matching forecasts. The Canadian dollar dipped slightly to 1.3628 per U.S. dollar and two-year bond yields fell.
Cooling inflation strengthens the case for further Bank of Canada rate cuts, which tends to weaken the loonie; the impact on feed commodity prices is limited.
reuters.comPromit Mukherjee, Ismail ShakilAug 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.
