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The Canadian dollar is decoupling from U.S. stock performance as investors focus on domestic economic headwinds. The correlation between the S&P 500 and the loonie has collapsed since March, and the currency fell even as U.S. stocks hit a record high.
Canada sends about 75% of its exports to the U.S., so a weaker loonie shifts the cost of Canadian exports such as canola and crude, and domestic weakness can dominate the usual risk-appetite link.
reuters.comFergal SmithMay 3, 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.
