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The US dollar rose about 0.5% against the Canadian dollar on October 30, its biggest daily gain in almost a month, closing at 1.3160. The Federal Reserve cut its policy rate by 25 basis points to 1.50%-1.75% and signaled a pause, while the Bank of Canada held rates steady.
A stronger US dollar against the loonie makes Canadian-origin feed inputs such as canola meal cheaper for US buyers and slightly weakens Canadian export commodity prices in dollar terms.
currencylive.comFiona CincottaOct 31, 2019Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
