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The loonie rose about 1.1% to C$1.2483 per US dollar after Canada's economy grew faster than forecast in the second quarter. Overnight index swaps showed the probability of a Bank of Canada rate hike this year rising to 79%, with a September hike seen at 40%.
A firmer Canadian dollar makes Canadian grain, oilseed and meal exports less competitive, and higher Canadian rates raise financing costs for feed buyers and farmers, which can soften canola and feed-grain demand.
bloomberg.comMaciej OnoszkoSep 1, 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.
