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The Canadian dollar is forecast to close 2016 at 1.3700 per US dollar and depreciate further. The US dollar and bond yields climbed as US data showed the economy on track for steady growth.
A weaker loonie makes Canadian exports such as canola meal and barley cheaper for foreign buyers, while a firmer dollar supports US dollar-priced grain and meal values.
reuters.comNov 23, 2016Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), 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.
