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A Reuters poll of nearly 40 currency analysts forecast the Canadian dollar would rally to 1.29 per U.S. dollar within a year. Near-term, the loonie was expected to give back some recent gains to about 1.3467.
The forecast reflects expectations of further Bank of Canada hikes and a fading appeal of the U.S. dollar.
Expectations of a stronger loonie raise the dollar cost of Canadian-linked commodity purchases over time. The poll is a forecast and has limited immediate effect on feed prices.
financialnewsletter.comReutersJun 7, 2023Not 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.
