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The Canadian dollar traded at 81.34 US cents on April 29, its highest since February 2018, after seven straight days of gains. Economists describe the level as a sweet spot that helps consumers without seriously hurting businesses.
A strong loonie lowers the Canadian cost of US-priced imports such as feed ingredients and machinery, but it can reduce the competitiveness of Canadian exports. Analysts expect strength in commodities such as lumber to keep supporting the currency.
theglobeandmail.comSalmaan FarooquiApr 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.
