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The Canadian dollar slipped on Thursday as U.S. advance fourth-quarter GDP grew 2.6%, above the 2.2% estimate. Canada's current account deficit widened to C$15.5 billion.
Fed Chair Powell had stressed patience on rates in congressional testimony.
Stronger U.S. growth and a patient Fed support the dollar against the loonie, which weighs on Canadian currency-driven costs. The effect on feed commodity prices is indirect.
investing.comMarketPulseFeb 28, 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.
