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USD/CAD fell to about 1.3120, its lowest level since September 2022, for a second straight day. Support came from a modest rise in crude oil prices and a softer U.S. dollar.
Traders were looking ahead to Canadian CPI and U.S. macro data.
A weaker U.S. dollar against the loonie is a modest support for commodity prices quoted in dollars, with limited direct effect on feed markets. The move mainly reflects currency and oil dynamics.
octaafrica.netJun 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.
