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TD Economics said investors have flooded into the U.S. dollar as a safe haven, with the greenback up 16% since summer 2021. The Canadian dollar has weakened because Canadian households are vulnerable to rising rates, which may limit BoC tightening.
Broad dollar strength raises the cost of dollar-priced commodities for importers and tends to weigh on global commodity prices. Equity bear market and rising yields also signal weaker risk appetite.
economics.td.comOct 20, 2022After 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.
Not 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.
