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The Canadian dollar weakened 0.3% against the US dollar on June 18 as coronavirus case increases and a record 21.6% drop in April wholesale trade weighed on sentiment. ADP data showed 208,400 Canadian jobs added in May, though April losses were revised to 2.36 million.
The Bank of Canada expects a prolonged, uneven recovery.
Weak Canadian trade and a slow recovery reduce demand for imports and push the loonie lower, which affects Canadian buyers' costs. The effect on feed markets is marginal.
theglobeandmail.comFergal SmithJun 18, 2020Not enough comparable past events yet for a historical read.
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.
