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TD Economics says the Canadian dollar has appreciated over 3% in 2021 and reached about 81 US cents, its highest since early 2018. The rise reflects strong commodity prices and a hawkish Bank of Canada.
The analysis suggests further loonie gains may be limited, which would keep Canadian import costs for feed and fertilizer relatively stable. Commodity-linked currency strength tends to track export commodity prices.
economics.td.comApr 30, 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.
