Falling Stocks Lead to Decline of Canada’s Dollar

The Canadian dollar extended its losses against its US counterpart today as the stocks fell, decreasing the risk appetite and damping demand for the growth-related assets.

The Standard & Poor’s 500 Index slipped 0.4 percent and the S&P/TSX Composite Index went down 0.1 percent. Futures on crude oil, Canada’s key export, traded at $87.75 per barrel, following the advance to the highest level in two years of $88.63.

USD/CAD advanced from 1.0030 to 1.0145 and traded near 1.0103 as of 10:42 GMT today.

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