Faltering Oil Affects Canadian Dollar Performance
The Canadian dollar along as other high-yielding currencies, witnessed a fall today in trading markets as the crude oil price, one of the main nation’s exports, declined sharply, affecting the loonie’s performance in foreign-exchanges markets towards the end of this Thursday.
Stocks and commodities play a significant role in the Canadian dollar performance, and today, as risk aversion rebound slightly, a down market in equities impacted negatively the loonie, which fell versus most of the 16 main traded currencies towards the end of this Thursday as the crude oil traded near $66 dollar a barrel in New York.
USD/CAD traded at 1.0895 as of 22:49 GMT from a previous rate of 1.0751 yesterday.
If you have any questions, comments or opinions regarding the Canadian Dollar, feel free to post them using the commentary form below.
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Earlier News About the Canadian Dollar:
- Canadian Dollar Declines on National Bank Statement (2009-09-23)
- Canadian Dollar Declines Further on Commodities (2009-09-22)
- Canadian Dollar Drops From Record High on Stocks (2009-09-18)
- Canadian Dollar Raise National Bank Concerns (2009-09-17)
- Canadian Dollar Gains Further on Risk Appetite (2009-09-15)
2 Comments
hello sir/madam
sorry to bother you can you help me with this question
1 deteremine which economic and politic factors affect the value of the canadian
2 detrmine how each of these factors either increase or decrease the value of the canadian dollar
if you can provide me with details in simple english form
i need complete brief details
i,ll appreciate that
I need this info as soon as possible
plaese reply soon
The Canadian dollar is influenced by the oil prices and global financial stability. Higher oil prices tend to increase the value of the CAD against USD, while the deteriorating economic conditions in the world tend to decrease the value of the CAD.