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The Canadian dollar rose to 76.35 US cents on August 28 as markets reacted to Fed Chair Powell's speech signaling tolerance for inflation overshoot. An analyst forecast further gains toward 77 cents near term and 79 cents over six months.
Expected US dollar weakness and a firmer loonie would make Canadian feed ingredients more expensive for US-dollar buyers. The impact on feed prices is indirect and depends on continued dollar trends.
chroniclejournal.comAug 28, 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.
