Canadian Dollar Rises as Economies of USA & Canada Improve
Canada’s dollar continued to rise today, following yesterday’s advance, on the signs that the economy of the United States is improving, while the economy of Canada itself also shows signs of recovery.
The unemployment claims fell from 385,000 to 366,000 last week. The Producer Price Index rose 0.3 percent, while the New York manufacturing index and the Philadelphia Fed Business Outlook Survey showed that manufacturing expanded this month.
USD/CAD fell from 1.0348 to 1.0320 and EUR/CAD dropped from 1.3466 to 1.3455 as of 3:04 GMT today. Meanwhile, CAD/JPY advanced from 75.18 to 75.40.
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Earlier News About the Canadian Dollar:
- European Crisis Continues to Hammer Down Canadian Dollar (2011-12-15)
- Loonie Weakens as Fed Doesn't Announce QE3 (2011-12-14)
- Canadian Dollar: Performance and Its Drivers in Near Future (2011-12-12)
- Canadian Dollar Jumps as Europe & USA Bring Good News (2011-12-10)
- Canada's Dollar Suffers from ECB (2011-12-09)