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The Canadian dollar strengthened against the US dollar on Tuesday, trading 0.6% higher at 1.33 per greenback. The gain followed US data showing fourth-quarter labor costs rising at their slowest pace in a year.
The loonie was up 1.9% for January, its biggest monthly gain since October 2021.
A firmer loonie makes Canadian exports pricier in US dollar terms, which can weigh slightly on Canadian grain and oilseed export competitiveness. The move is driven mainly by currency flows, with limited direct effect on feed commodity prices.
financialpost.comReutersJan 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.
