After losing for five consecutive days, the Canadian currency rebounded versus its U.S. counterpart as stocks in Toronto climbed and the crude oil rebounded followed by most of the main traded commodities.
The Canadian dollar, which reached a 10-month high versus the greenback during the past week, returned to more reasonable rates as pessimism came back to equities markets following the end of the past week. Today, the Canadian trade deficit diminished more than forecasts, helping to loonie to climb with favorable crude oil prices and stock markets movements.
USD/CAD traded at 1.0877 as of 17:32 GMT from a previous rate of 1.1075 just a few hours earlier.
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