Gold, Oil Force Canadian Dollar Up
The Canadian dollar continued to trade high maintaining yesterday’s gains versus the U.S. dollar as gold reached a record high, raising attractiveness for Canadian commodities.
The loonie, as the Canadian dollar is often referred to, continued to trade near a four week high versus its U.S. counterpart as the oil, one of the main Canadian exports to the U.S. climbed beyond $80 a barrel, in a day that U.S. posted weak construction industry data.
USD/CAD traded at 1.0526 as of 17:28 GMT from yesterday’s rate of 1.0595.
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Earlier News About the Canadian Dollar:
- Bullish Week Start for Canadian Dollar on Stocks (2009-11-16)
- Canadian Dollar Bullish Versus U.S. Counterpart (2009-11-14)
- Canadian Dollar's Rally Halted as Commodities Falter (2009-11-12)
- Canadian Dollar Hits Record High on Global Growth (2009-11-11)
- Crude Oil Above $80 Forces Canadian Dollar Up (2009-11-10)