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The US Commerce Department announced anti-subsidy tariffs averaging about 20 percent on Canadian softwood lumber, affecting roughly $5 billion of imports. The Canadian dollar fell to its lowest level since December.
An ANZ strategist said further escalation over dairy could weaken the loonie more.
Tariffs on a major Canadian export raise trade tension between the two countries and push the Canadian dollar lower. Escalation into dairy could affect milk product trade and cross-border feed supply.
cnbc.comLeslie ShafferApr 25, 2017Not enough comparable past events yet for a historical read.
After 49 past bearish trade events, MILK moved a median -0.3% over 5 sessions (39% higher; middle half -4.7% to +1.5%), and -0.4% 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.
