USD/CAD Stable, Other CAD-Crosses Weak

The Canadian dollar was stable against its US counterpart but fell against other most-traded currencies today, most likely dragged down by crude oil prices.

Foreign investment in Canadian securities rose from C$16.69 in September to C$20.81 in October. Yet the market did not pay attention to the good report, sending the Canadian currency down. The probable reason for that was the decline of crude oil prices.

The end of this week will be full of important reports from Canada. Inflation data will be released on Thursday, along with the new employment report for Canada from Automatic Data Processing. Gross domestic product is scheduled for release on Friday.

USD/CAD was flat at 1.2864 as of 18:51 GMT today. EUR/CAD gained from 1.5112 to 1.5170, and its daily high was at 1.5213. CAD/JPY slipped from 87.55 to 87.42.

If you have any questions, comments or opinions regarding the Canadian Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *