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The Canadian dollar fell to its lowest level in over two weeks, dropping 0.9% against the US dollar, its largest one-day decline since October 28. The move followed a broad sell-off in global shares and a US stock drop after Fed concerns about the recovery.
A weaker loonie makes Canadian grain and oilseed exports cheaper on world markets, which can modestly support Canadian canola meal and pea exports. Risk-off trading also pressures commodity prices broadly.
financialpost.comReutersJan 27, 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.
