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Analysts at MUFG said Fitch's June 24 downgrade of Canada's sovereign rating from AAA to AA had limited impact on the Canadian dollar. They expect CAD to rise against the greenback over the medium term, with risks from the Bank of Canada's balance sheet expansion and US COVID cases.
Correlation analysis shows CAD is now driven more by equities than oil.
A stronger CAD would lower the cost of Canadian imports for feed buyers, while oil and risk sentiment remain the main drivers. Direct feed price implications are minimal.
octaafrica.netJun 26, 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.
