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The Bank of Canada surprised markets with a 100 basis point rate hike to fight inflation. The move lifted the Canadian dollar to about 1.2975 per US dollar, while the Canadian stock index slipped to its lowest since March 2021 before recovering.
A larger-than-expected rate hike strengthens the loonie and tightens financial conditions, which can weigh on Canadian demand and on dollar-denominated commodity prices.
reuters.comJulie Gordon, Steve SchererJul 13, 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.
