The Canadian dollar lost today for the first time in more than a week as stocks and the crude oil had their first decline as risk aversion reappeared in financial markets worldwide.
The loonie ended a long streak of gains versus the greenback today after an U.S. consumer confidence report indicated a decline beyond estimations, affecting stocks markets and commodity prices automatically, and consequently weakening the extremely commodity-linked Canadian currency. Even with today’s decline, the Canadian dollar is still in a strong level, after hitting the highest peak in eleven months yesterday.
USD/CAD traded at 1.0827 as of 20:13 GMT from 1.0745 hours ago.
If you have any questions, comments or opinions regarding the Canadian Dollar,
feel free to post them using the commentary form below.
Be First to Comment