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The Canadian dollar fell against the U.S. dollar after Trump threatened a 5% tariff on all Mexican goods from June 10, which could rise to 25% by October. Canadian monthly GDP grew 0.5%, above the 0.4% analysts expected.
The trade threat raises the risk of wider trade conflict with Europe and Japan.
Tariffs on Mexico threaten a major buyer of U.S. corn, soymeal and pork, and wider trade conflict could cut export demand for feed ingredients.
economies.comRami HaddadMay 31, 2019After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% over 20.
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.
