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Stronger-than-expected first-quarter Canadian GDP of 3.1% annualized raised expectations of another Bank of Canada hike. Markets priced about a 40% chance of a hike at the June 7 meeting and a 25-basis-point increase by September.
Desjardins and others said further tightening was gaining traction.
Expectations of tighter Canadian policy support the loonie against the US dollar. The effect on feed commodity prices is minor, mainly altering Canadian export pricing in US dollar terms.
financialpost.comStephanie HughesMay 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.
