Canadian Dollar Impacted by Declining Commodities Demand

The Canadian dollar is having one of worst performances this week in more than 2 months as risk appetite is declining worldwide, affecting currencies that perform well on growing optimism.
The loonie has been influenced since the past week when Bank of Canada officials affirmed that a strong loonie could jeopardize the nation’s economic performance, and since then, a strong wave of risk aversion also affected stocks and commodities, assets which play a fundamental role to decide the loonie’s trends.
USD/CAD traded at 1.1053 as of 11:06 GMT from 1.1037 yesterday.

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