Canada is a resource-based country, endowed with oil, natural gas, potash, base metals, precious metals, wheat, forests, etc. Thus, changes in commodity prices have a direct effect upon the value of the Canadian dollar.
This week we present three charts that compare, since May 2007, the relationship between selected commodities and the Canadian dollar. The first chart pits a comprehensive commodities index (the Reuters/Jeffries Commodity Index) against the C$.
|
