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Canada's economy grew 0.2% in May and a preliminary June estimate showed 0.1% growth, lifting quarterly growth to 2.2%. The loonie rose to 1.3810 per U.S. dollar as traders reduced bets on a 50-basis-point Bank of Canada cut.
Firmer growth reduces expected Bank of Canada easing, which supports the Canadian dollar and marginally affects the cost of Canadian oilseed exports priced in USD.
kitco.comJul 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.
