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TD Economics senior economist James Orlando said the Canadian dollar could rise to 82 US cents if Canada and the U.S. strike a trade deal, from about 76 cents currently. The loonie has lost more than four per cent against the U.S. dollar this year as trade uncertainty weighed on it.
Orlando said the currency is two to three per cent undervalued.
A stronger loonie makes Canadian-origin feed and dairy inputs cheaper for U.S. buyers and raises costs for Canadian buyers of U.S. feed grains and meal. A signed NAFTA deal would likely pull USDCAD lower.
cbc.caRajeshni Naidu-GhelaniAug 31, 2018Not 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.
