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Day: July 9, 2013
July 92013
Loonie Finds Support in Recent Economic Data
Canadian dollar is finding support in recent economic data today. Loonie is up against its major counterparts, including the greenback, as better news out of Canada supports the currency, and as a touch of risk appetite provides demand for yield. Recent economic data out of Canada has been somewhat encouraging. Statistics Canada released a report that showed building permits rose in May, rising a seasonally adjusted 4.5 per cent, […]
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July 92013
US Dollar Strengthens as Earnings Kick Off
US dollar is strengthening today following the earnings kick off for the second quarter. With good news from Alcoa building on last week’s strong jobs data, dollar is finding support from expectations that the Fed taper will begin soon, and the economy will strengthen. The news is good for the US economy, resulting in gains for the US dollar right now. Alcoa, the largest aluminum producer in the United States, started […]
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