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Reuters reports the Canadian dollar touched its weakest level in 14 months near C$1.38 per US dollar, as speculators built the largest net short positions since February 2016. Pressures cited include lower crude prices, Fed-BoC policy divergence, and US trade threats.
A weaker loonie lowers Canadian export prices in US dollars and can pressure canola meal values, while falling oil also weighs on the energy complex.
archives.lincolndailynews.comMay 11, 2017Not 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.
