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The Canadian dollar fell to a two-week low against the U.S. dollar at about 77.11 U.S. cents as lower oil prices and global trade tensions weighed on the currency. Analysts warned the pressure could intensify next week around NAFTA talks and the expiry of Canada's exemption from U.S. steel and aluminum tariffs.
A weaker loonie makes Canadian-origin feed inputs and exports cheaper for U.S.-dollar buyers while currency-driven trade uncertainty clouds Canadian grain and canola export demand; the effect on feed prices is modest.
cbc.caRajeshni Naidu-GhelaniMay 26, 2018Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
