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CIBC deputy chief economist Benjamin Tal recommended shorting the Canadian dollar, forecasting a drop to just over 75 US cents early next year. He cited a predictable post-decision selloff and a more subdued outlook for Bank of Canada rate hikes.
A forecast of a weaker loonie would raise USD/CAD and make Canadian-origin feed ingredients cheaper for US buyers. The view is a forecast rather than a new supply or demand event, so its price effect is modest.
theglobeandmail.comMichael BabadOct 30, 2017Not 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.
