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The Canadian dollar strengthened to its highest level in nearly four weeks on March 29 as risk appetite recovered. Speculators had raised bearish bets on the currency to their largest level since January 2019.
Heavy speculative shorts create potential for a short-covering rally in the loonie, which would lower USD/CAD and the dollar cost of Canadian-origin feed inputs.
kitco.comMar 29, 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.
