CAD Rebounds vs. USD, Stays Soft vs. EUR & JPY
The Canadian dollar dropped versus its US peer, but managed to rebound on the previous trading session. The currency stayed near the opening level at today’s session. Meanwhile, the loonie remained soft against the euro and the Japanese yen.
The loonie, as the Canadian currency is nicknamed for the image of an aquatic bird on the C$1 coin, fell together with crude oil. Oil is the major Canadian export. Futures for crude declined 0.51 percent to $94.89 per barrel in New York today.
USD/CAD went up from 1.0190 to 1.0250 on yesterday’s trading session, but retreated and traded at 1.0180 as of 00:44 GMT on today’s session. EUR/CAD rose from 1.3509 to 1.3562 yesterday and remained near this level today. CAD/JPY tumbled from 96.85 to 94.19 before trading at 94.59.
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Earlier News About the Canadian Dollar:
- Canadian Housing Starts Beat Expectations, Loonie Rallies (2013-06-10)
- Canadian Dollar Jumps on Biggest Employment Growth in Decade (2013-06-07)
- CAD Rallies as Poloz Reiterates Interest Rate Hike Probable (2013-06-06)
- Canadian Dollar Goes Lower on Mixed US Data (2013-06-05)
- Canadian Dollar Loses Ground on Wider Trade Deficit (2013-06-04)