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The Canadian dollar held firm during the week WTI crude futures fell below zero for the first time. The loonie slid only 0.7% against the greenback while other oil-linked currencies such as the Mexican peso fell more sharply.
Analysts said the historic link between the loonie and crude is weakening.
The decoupling of petro-currencies from crude means oil price moves are a less reliable guide to exchange-rate-driven import costs for Latin American and Canadian feed buyers.
energynow.caApr 25, 2020Not enough comparable past events yet for a historical read.
Not 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.
