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The Canadian dollar hit a 12-day high against the US dollar on November 6 as oil rallied to its highest since July 2015, with US crude settling at $57.35. Traders awaited a Bank of Canada speech by Governor Poloz.
Higher crude supports Canadian dollar strength, which tends to raise the cost of Canadian oilseed exports while crude strength lifts biofuel-linked demand for vegetable oils.
babypips.comReutersNov 6, 2017Not enough comparable past events yet for a historical read.
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.
