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Scotiabank still expects the Canadian dollar to fall below 71.5 US cents by mid-2017 from about 76.5 cents. Its strategists say the loonie's historical link to crude oil is weaker than the petro-currency narrative suggests.
A weaker loonie makes Canadian exports cheaper and can support Canadian feed and grain competitiveness. The forecast also signals that oil-linked currency moves may be less reliable for pricing Canadian commodity exposure.
theglobeandmail.comMichael BabadFeb 16, 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.
