The Canadian dollar fell against the euro as risk aversion, that followed the earthquake, the tsunami and the radiation leak from the nuclear plant, decreased appeal of currencies linked to growth. The currency pared losses versus its US counterpart, rising today after falling for two day.
The nuclear agency of the United Nations plans an emergency meeting to find a way to deal with the crisis at Japanâs Fukushima
Not all news were bad for the loonie, as the Canadian currency is called for the image of the aquatic bird on C$1 coin. Crude oil, the main Canada’s export, rose 1 percent to $98.14 per barrel in New York, after advancing earlier as much as 2.5 percent to $99.60 as the protests in Bahrain intensified. The manufacturing sales in Canada increased 4.5 percent to $47.7 billion in January, the highest level since October 2008. That’s compared to the forecast of 1.3 percent and the previous reading of 0.6 percent.
USD/CAD traded today at 0.9885 as of 9:07 GMT after rose yesterday from 0.9852 to 0.9908. EUR/CAD rose today from 1.3801 to 1.3825, following earlier decline to 1.3759.
If you have any questions, comments or opinions regarding the Canadian Dollar,
feel free to post them using the commentary form below.
