The Canadian dollar fell against the US dollar and the euro, but gained versus the Japanese yen as growing optimism about an outcome of the talks about Greek debt has started to slowly disappear from the Forex market, but hasn’t gone completely yet.
It was a complicated trading day today. Views regarding a possible end of the unending story of Greece’s problems were shifting constantly and the Forex market was following the changes of traders’ mood, creating a very difficult environment to trade. Currently, market sentiment inclines to positivity, but this may easily change anytime.
News from Canada was easier to interpret as all fundamental reports were positive this week. Canadian housing starts were at a seasonally adjusted rate of 197,900 in January. That’s a decline from the December reading of 199,900, but the result is better than the predicted 193,000 anyway.
USD/CAD rose from 0.9946 to 0.9957, following the jump to 0.9989, while EUR/CAD gained from 1.3186 to 1.3203 as of 21:53 GMT today. At the same time, CAD/JPY went up from 77.13 to 77.32.
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