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The Canadian dollar reached about 83 US cents this month, and Bank of Canada Governor Tiff Macklem has warned that further gains could weigh on exports. Analysts at Capital Economics say commodity strength and a brighter economic outlook are behind the currency's rise.
The article also discusses the possible timing of a Bank of Canada rate hike.
A stronger loonie and possible earlier rate hikes shape the cost of Canadian-linked imports and the competitiveness of Canadian exports. Commodity price strength is the main support for the currency.
financialpost.comPamela HeavenMay 26, 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.
