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The Canadian dollar fell to a 20-month low of about 75.62 US cents after the Bank of Canada announced its largest rate hike since 1998. The US dollar gained broadly after US inflation reached 9.1% in June, the highest in over 40 years.
A stronger US dollar driven by inflation and rate expectations pressures dollar-priced commodities and can make imports more expensive for Canadian buyers.
barrie360.comCanadian PressJul 14, 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.
