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The Canadian dollar fell to a near three-month low against the U.S. dollar on August 25, trading around 1.3615 per greenback. The move followed Fed Chair Powell's signal that further rate hikes may be needed, lifting the greenback broadly.
A weaker loonie makes Canadian-origin feed inputs such as canola meal cheaper for US and other buyers, while higher US rates keep the dollar firm, which tends to pressure dollar-priced grain and meal.
reuters.comFergal SmithAug 25, 2023Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, DXY 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.
