The loonie had a day of losses versus virtually all main traded currencies, as U.S. jobs were cut more than what forecasts predicted, damping demand for risk appetite in markets.
The loonie had a third week of losses as a fall in U.S. stocks and crude oil decreased the attractiveness for the high-yielding profile of the Canadian currency.
The loonie continued its rally after a day of losses as the main trading partner of Canada, the United States, is showing signs of an economic revival.
The loonie posted significant gains versus the U.S. dollar as the crude oil continued to advance and optimistic speculations about the world economy brought stock markets up.
A combination of factors involving commodities price rebound, stocks rally and a less attractive U.S. dollar in global markets made the loonie to post the highest gains since the Korean War years.
The Canadian dollar advanced against both U.S. dollar and the euro for a second day today as the stock markets surged globally, while the oil price advanced close to $60 per barrel.
After a bearish previous week, the loonie reached a 6-month high against the dollar as national employers added jobs and optimistic data from the U.S. indicate that the recession may be easing.
The loonie weakened for the first time in six days as the crude oil price fell, making Canada’s currency to drop from a 6-month high.
The loonie posted gains for 5 weeks in a row, on speculations that the global financial turmoil is easing, pushing commodity prices up.
The Canadian dollar had the second day of losses against the greenback after a report indicating that the inflation slowed during the last month.
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