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Canada's economy most likely grew at an annualized rate of around 4% in Q2, ahead of expectations, according to a Reuters preview. Markets are also pricing in a large September rate hike by the Bank of Canada, and the loonie traded near 1.2805 per US dollar.
Stronger Canadian growth and expected aggressive tightening support the Canadian dollar against the greenback, which tends to weigh on USD-denominated commodity prices and modestly reduces feed import costs for Canadian buyers.
reuters.comDavid LjunggrenJul 29, 2022Not 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.
