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The Canadian dollar was little changed against the U.S. dollar on Thursday, as a dip in oil prices offset data showing exporter confidence at its highest in over 20 years. EDC's Trade Confidence Index rose 19% from end-2020 to mid-2021.
Oil held close to a three-year high and the loonie gained 1.3% over the week.
Strong exporter confidence points to firm demand for Canadian goods, which supports the loonie and can keep import costs for U.S.-dollar-priced feed ingredients elevated. The effect on grain and oilseed prices is indirect.
brecorder.comReutersJun 24, 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.
