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The Canadian dollar gained as the US dollar weakened, with USD/CAD trading near 1.295. Canadian GDP rose 0.8% in September, slightly below expectations, and sterling rose on Brexit deal optimism and UK vaccine approval news.
This is a routine currency update with no direct supply or demand effect on feed commodities. A weaker USD can modestly support dollar-denominated commodity prices.
ofx.comTuesdayNov 30, 2020Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
