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The Canadian dollar edged higher against the U.S. dollar after an early decline, as oil prices recovered and Fed Chair Jerome Powell signalled patience on further rate hikes. The U.S. dollar fell to a three-week low, and U.S. crude settled at $55.50 a barrel.
A softer greenback and firmer oil support the loonie, which lowers the USD/CAD rate. For feed buyers, this has little direct effect on grain or oilseed prices, but a weaker dollar can modestly support U.S. commodity export prices.
theglobeandmail.comFergal SmithFeb 26, 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.
