Canadian Dollar’s Rally Halted as Commodities Falter

The Canadian dollar had the first day of losses versus its U.S. counterpart and several other key-currencies as the price of commodities declined this Thursday after a sharp rise that started in the beginning of this week’s session.

The loonie is highly dependent on commodities rates since Canada is a main supplier of energetic and metallic commodities to the United States, and today, as the these markets had a breather, the loonie posted its first negative day in this week following the poor oil charts performance.

USD/CAD traded at 1.0534 as of 18:43 GMT from a previous rate of 1.0452 yesterday.

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