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The Bank of Canada raised rates and became the first major central bank fighting inflation to signal it would likely hold off on further hikes. The Canadian dollar traded 0.3% lower at 1.3410 per US dollar.
The two-year government bond yield eased nearly 6 basis points to 3.596%.
A signaled pause by a major central bank can weaken the US dollar and lift risk assets, which tends to support commodity prices. Lower expected rates also reduce the cost of carrying inventories for feed buyers.
reuters.comSteve SchererJan 25, 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.
