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The Canadian dollar fell about half a cent below 81 US cents after the Fed's September policy statement signalled more rate hikes than markets expected. The US dollar index spiked 0.8 per cent, and the Fed raised its 2017 growth forecast to 2.4 per cent.
A sharp dollar rally after a hawkish Fed tends to pressure dollar-denominated commodity prices and shifts relative competitiveness of US feed exports versus Canadian and Brazilian supply.
theglobeandmail.comDavid BermanSep 20, 2017After 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.
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.
