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The Canadian dollar weakened against the U.S. dollar as oil prices fell ahead of a surprise rise in U.S. fuel stocks. Investors also shifted attention to the greenback ahead of Trump's promised tax cut announcement.
Canadian February retail sales fell 0.6 percent, more than forecast.
A weaker loonie makes Canadian-origin feed inputs cheaper for US buyers and reflects softer crude prices that weigh on energy-linked feed costs. The move is mostly currency-driven, with limited direct effect on grain prices.
financialpost.comReutersApr 26, 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.
