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The dollar index was set to end the week flat but was down 2.56% for April, its biggest monthly loss since July. The Canadian dollar rose to a more than three-year high of C$1.2268 per US dollar after the Federal Reserve held policy steady.
A weaker US dollar and a stronger Canadian dollar make Canadian canola and other exports more expensive in US dollars, which tends to support prices for dollar-priced feed ingredients.
brecorder.comReutersApr 30, 2021brecorder.comReutersApr 30, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
