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The Canadian dollar weakened against the US dollar on June 26 as broad US dollar gains offset a brief boost from hot May inflation data. The loonie traded near 1.37 per USD, and the yen fell to its weakest level against the greenback since 1986.
Canadian wholesale trade fell 0.9% in May while oil rose to about $81 a barrel.
A firmer US dollar against the loonie lowers the Canadian dollar value of US grain and oilseed export prices, which can support Canadian-origin feed demand. Currency moves of this size have only a modest effect on feed prices.
kitco.comJun 26, 2024Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
