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The Canadian dollar rose after Canada added 48,300 jobs in January and oil prices strengthened under OPEC output limits. Markets raised the implied odds of a Canadian rate hike this year to over 40 percent, though analysts flag a housing bubble risk.
Stronger oil and jobs data support the loonie, which lowers USD/CAD and reduces Canadian import costs for US-priced feed. Rising Canadian rate expectations could also attract capital flows into the currency.
euromoney.comDavid WiganFeb 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.
