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Canada's GDP figures were released showing growth above expectations, and the Canadian dollar firmed to about 1.3812 per U.S. dollar. Two-year Canadian bond yields rose slightly.
Stronger Canadian growth reduces the case for faster Bank of Canada rate cuts, supporting the loonie; a firmer CAD modestly affects Canadian export pricing for commodities like canola.
reuters.comPromit Mukherjee, Ismail ShakilJul 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.
