Forex News

The Canadian dollar ended another week declining versus its U.S. counterpart and lower-yielding currencies despite a report showing that the nation’s economy grew for another month, as the U.S. GDP report had more impact in markets globally.

Even if a report showed that Canada’s gross domestic product rose for a third consecutive month in November 2009, the loonie declined versus the greenback as a report indicated that the U.S. economy expanded more than forecasts suggested in the last quarter of 2009, making the U.S. dollar to touch the highest level in 2010 versus its Canadian counterpart.

USD/CAD traded at 1.0697 as of 21:37 GMT from a previous intraday rate of 1.0654.

If you want to comment on the Canadian dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the Canadian Dollar:

• Canadian Dollar Remains Bearish on Stocks Performance (2010-01-27)
• Canadian Dollar Reaches 2010 Record Low on Risk Aversion (2010-01-27)
• Stocks Push Loonie Further Down (2010-01-25)
• Canadian Dollar Falls Further on Retail Sales (2010-01-22)
• Canadian Dollar Down on China, U.S. Statements (2010-01-22)

This entry was posted on Friday, January 29th, 2010 at 11:41 pm and is filed under Canadian Dollar. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.