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The Canadian dollar weakened against the U.S. dollar on Friday, giving back much of the week's gains, after Statistics Canada reported a 1.2% drop in October retail sales versus expectations of a 0.5% rise. Chances of a Bank of Canada rate cut within a year jumped to nearly 50% from about 25%.
A weaker loonie and rate-cut bets lower the cost of USD-priced grains and oilseeds for Canadian buyers, while signalling softer domestic demand. The effect on feed commodity prices is minimal.
theglobeandmail.comFergal SmithDec 20, 2019Not 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.
