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CIBC Research targets USD/CAD at 1.39 in Q3 and expects the Canadian dollar to weaken to 1.40 at some point during the recovery. It cites Canada's weak current account and trade balance, an overweight in energy, and a long wait before the Bank of Canada moves off near-zero rates.
CIBC's view implies a weaker loonie, which would raise the cost of imported feed inputs for Canadian buyers. The forecast is a currency call with little direct grain or meal impact.
teletrade.orgJun 25, 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.
