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The Canadian dollar fell to a six-week low of about 1.3376 per U.S. dollar on September 23 as investors sold commodity-linked currencies over rising coronavirus cases. The safe-haven U.S. dollar strengthened to an eight-week high, and Ottawa announced more economic support.
Risk-off flows that weaken commodity currencies can lower the cost of Canadian exports, while a firmer U.S. dollar tends to pressure dollar-denominated grain and oilseed prices. The effect on feed markets is indirect and short-lived unless the risk aversion persists.
financialpost.comReutersSep 23, 2020Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
