Loading…
The Canadian dollar showed resilience against a stronger US dollar in the week of June 24 to 28, after a brief rise following hot inflation data. A Canadian GDP release was steady, and US data showed slower growth and a rise in jobless claims.
Analysts expected the Bank of Canada to pause in July and the Fed to begin cutting in September.
Expectations for diverging central bank paths shape the loonie and dollar, which affect the cost of US and Canadian exports to feed buyers. The commentary is an outlook piece with little direct price impact.
interchangefinancial.comInterchange FinancialJun 28, 2024Not enough comparable past events yet for a historical read.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
