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USD/CAD edged higher as crude oil prices fell toward $75 a barrel on expectations that OPEC+ would agree on deeper supply cuts. Canada's September retail sales beat forecasts with a 0.6% increase, which limited the loonie's losses.
Falling oil prices reduce the Canadian dollar's support and raise the cost of US dollar-priced imports for Canadian feed buyers. Stronger domestic retail data offers some offset.
leaprate.comSimon MugoNov 27, 2023Not enough comparable past events yet for a historical read.
Not 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.
