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The Canadian dollar edged lower against the US dollar on Thursday as oil fell after a surprise rise in US crude stocks, with US crude down 0.6% at $32.61 a barrel. Statistics Canada reported the current account deficit widened to $11.1 billion in the first quarter.
The loonie stayed near a 2.5-month high.
Oil is one of Canada's major exports, so weaker crude feeds through to the loonie, but this is a currency move with little direct effect on feed commodity prices.
theglobeandmail.comReutersMay 28, 2020Not enough comparable past events yet for a historical read.
Not 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.
