Loading…
A Reuters poll of 30 currency strategists shows improved Canadian dollar forecasts, with the loonie expected to pull back to 1.30 in one month and strengthen to 1.2739 in a year. Strategists cite domestic stimulus, vaccine rollout and higher oil prices as tailwinds.
Canada's budget deficit is forecast at a record C$382 billion.
A stronger expected loonie and higher oil prices shift input and export pricing for Canadian commodities, while the record fiscal deficit signals sustained domestic demand support.
financialpost.comReutersDec 4, 2020Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
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.
