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HSBC economists said risk appetite remains the dominant driver of the Canadian dollar, and that the outlook for growth and risk sentiment will stay challenging while the Fed and BoC keep tightening. They expect the CAD to remain under pressure.
Weak risk appetite and a firmer dollar tend to pressure commodity prices and commodity-linked currencies. This view points to continued headwinds for dollar-denominated commodity markets.
octaafrica.netOct 31, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
