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The Canadian dollar pushed through 83 US cents for the first time in six years, with speculators shifting to bullish positions after a year of betting against it. Strategists link the rise to a stronger Canadian recovery, a more hawkish Bank of Canada and rebounding commodity prices.
The currency's move depends on whether commodity prices keep rising.
Commodity-linked currency strength reflects firm raw material prices, which feed into export values and input costs for Canadian producers. A stronger loonie also changes the cost of Canadian-origin products for foreign buyers.
theglobeandmail.comTim ShufeltMay 18, 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.
