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The Canadian dollar was little changed near 1.2466 per US dollar, close to its strongest level since February 2018, ahead of a Federal Reserve meeting. Oil prices fell, with US crude settling 0.3% lower at $65.39 a barrel, after Canada added more jobs than expected in February.
Pre-Fed positioning and a firmer loonie affect the cost of Canadian-origin commodities priced in US dollars. Lower oil reduces energy costs for transport and processing.
theglobeandmail.comFergal SmithMar 15, 2021Not enough comparable past events yet for a historical read.
Not 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.
