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The Canadian dollar strengthened to a two-week high against the greenback after Joe Biden received formal approval to begin his White House transition, lifting risk sentiment. The Dow breached 30,000 for the first time and U.S. crude settled 4.3% higher at $44.91 a barrel.
Currency moves here are driven by macro risk appetite rather than grain or feed supply, so the direct effect on feed prices is minimal. A firmer CAD and higher crude can marginally affect Canadian export competitiveness and energy-linked costs.
theglobeandmail.comReutersNov 24, 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.
