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Canada's fourth-quarter GDP growth beat forecasts, which reduced pressure for an immediate Bank of Canada rate cut. The loonie recovered earlier losses to trade 0.1% higher at 1.3565 per U.S. dollar, and two-year Canadian yields edged up.
A firmer Canadian economy and less urgency for rate cuts support the Canadian dollar, which lowers USD/CAD. This is a currency move with little direct effect on feed grain or oilseed prices.
reuters.comPromit MukherjeeFeb 29, 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.
