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The Canadian dollar rose 0.2% to 1.2677 per US dollar on Thursday, its strongest level in nearly three weeks. Global shares rose for a ninth straight day after a benign US inflation report and a dovish Federal Reserve outlook, while US crude fell 0.2% to $58.55.
A dovish Fed weakens the dollar and supports commodity-linked currencies, which lowers the cost of Canadian-origin feed for US buyers. The move is small and has little direct price impact on grain or meal.
theglobeandmail.comReutersFeb 11, 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.
