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USD/CAD held modest gains on June 30 and stayed below 1.3700 after Statistics Canada's GDP report showed a less-than-expected 11.6% contraction in April. Sliding oil prices weighed on the loonie, while haven demand for the US dollar rose on rising global coronavirus cases.
Lower oil prices and haven flows weigh on the Canadian dollar, which can affect the cost of Canadian-sourced feed inputs. The effect on feed prices is limited.
octaafrica.netJun 30, 2020Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
