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Globe and Mail commentary says Canadian and US economies are diverging, with Canada's economic surprise index at a five-year high while the US index falls. Fed chair Powell signalled future rate cuts after the June meeting, pushing US yields and the dollar lower.
Diverging growth and rate expectations support a stronger loonie, which affects dollar-denominated Canadian grain and oilseed export prices.
theglobeandmail.comScott BarlowJun 20, 2019Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
