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The Canadian dollar weakened to a six-day low against the U.S. dollar, trading 0.3% lower at 1.2333. Oil fell 1.5% to $72.01 a barrel as COVID-19 cases rose in Asia and Europe.
Traders were focused on U.S. jobs data that could signal the pace of Fed tightening.
A weaker loonie and softer oil reduce Canada's export income and make U.S.-dollar-priced feed imports relatively more expensive for Canadian buyers. Market attention on U.S. payrolls adds near-term volatility to currency-driven input costs.
financialpost.comReutersJun 28, 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.
