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Scotiabank analysts said softer Canadian growth data could add to near-term pressure on the Canadian dollar, which had slipped to the mid-1.36 range ahead of GDP figures. They argued the Bank of Canada may need more tightening given sticky inflation and a reviving housing market.
A forecast of weaker near-term loonie support is a currency view with limited direct effect on feed commodity prices. It matters mainly for Canadian export pricing in US dollar terms.
octabroker.comMay 31, 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.
