CAD Gains on USD, Weak vs. JPY
The Canadian dollar rose against its US peer today, extending the rally for the fifth consecutive session, and gained on the euro. The currency dropped against the Japanese yen.
Canada’s gross domestic product expanded 0.3 percent in February, with the same rate as in prior month. Analysts have expected somewhat slower growth by 0.2 percent.
Other data was less favorable. The Raw Materials Price Index fell 1.7 percent in March, led by the decline of crude oil. The Industrial Product Price Index rose 0.1 percent, slower growth than the February’s 1.3 percent.
USD/CAD fell from 1.0070 to 1.0062 as of 1:09 GMT today. EUR/CAD was at 1.3250, retreating from the opening level of 1.3260. Meanwhile, CAD/JPY went down from 96.69 to 96.53.
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Earlier News About the Canadian Dollar:
- Good Economic Indicators Result in Rally of CAD (2013-04-26)
- CAD Reverses Losses vs. USD & JPY, Erases Gains vs. EUR (2013-04-24)
- Loonie Heads Lower After Good Trading Session (2013-04-24)
- Canadian Dollar Attempts to Rally, Fails (2013-04-23)
- CAD Closes Flat vs. USD & EUR, Stronger vs. JPY (2013-04-20)