The Canadian dollar posted its biggest loss in a year against its U.S. peer as the nation's annual inflation rate fell in April to its slowest in more than three years, bolstering the case for relaxing monetary policy.
The Canadian dollar declined for a fifth time in six days versus its U.S. peer as a regional Federal Reserve president said the central bank may begin slowing monthly bond-buying as the labor market strengthens.
TORONTO - The Canadian dollar headed lower Friday after Statistics Canada reported that consumer prices rose last month at the slowest rate it's seen in more than three years.
The Canadian dollar gained for the first time in five days versus its U.S. counterpart after American industrial production dropped in April by the most in eight months.
TORONTO - The Canadian dollar closed at 97.17 cents US on Friday, down 0.95 of a cent from Thursday's close. The U.S. dollar ended at 102.91 cents Cdn, up 0.99 of a cent.
HSBC's Mr. Watt said the U.S./Canadian dollar pair remains in the broad range between C$0.9400 and C$1.0500 it has occupied since late 2010 when the Bank of Canada initially expressed its concern about the effects of the strong Canadian dollar on the ...
... the dollar to spur recovery, and their dismantling would allow the greenback to firm. The Canadian dollar, meanwhile, was down against the euro and up against the yen, with EUR/CAD up 0.45% and trading at 1.3190 and CAD/JPY up 0.03% at 100.36.
The fact the Australian dollar has dropped 3.7% against the Canadian dollar since the beginning of the month has suggested to traders the Canadian unit is vulnerable to selling pressure to bring its losses in line with other non-U.
It is an important factor in determining the success of specific Canadian sectors. How important a strong Loonie is to Canada's economy depends on who you ask says Jack Carr, an economist at the University of Toronto.
TORONTO - The Canadian dollar was lower Friday as Statistics Canada reported that consumer prices rose last month at the slowest rate since October 2009.
Information is provided "as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed. To see all exchange delays, please see disclaimer.