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The Canadian dollar weakened for a second day against the U.S. dollar, trading 0.2% lower at 1.2364 per greenback. The safe-haven U.S. dollar gained as Australia and several Asian countries reimposed lockdowns to contain the Delta variant.
Oil rose 1% to $73.55 a barrel while copper fell for a fourth day.
Lockdown-driven risk aversion strengthens the U.S. dollar against the loonie, which raises the cost of Canadian-origin feed inputs and affects import-cost calculations for buyers. Softer copper and firmer oil point to mixed signals for Canada's commodity-linked currency.
theglobeandmail.comReutersJun 29, 2021Not 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.
