The Canadian dollar was mixed at the start of the week with absence of any major news to drive the currency in any particular direction. The loonie did not show a noticeable trend today either.
It looks like markets are uncertain in which direction to move. Stocks were falling, while crude oil was rising. Both losses and gains were small though, not giving an edge to either bulls or bears.
The Canadian currency was little changed as a result. It rose a little against the yen, fell somewhat against the dollar and was flat versus the euro. Some analysts were worried that the recent loonie’s rally has lost its momentum, but it is too early to make any conclusions, considering how insignificant the currency’s moves were so far.
USD/CAD rose from 1.0304 to 1.0307 as of 2:09 GMT today. CAD/JPY advanced from 93.98 to 94.24. EUR/CAD was flat at 1.3705.
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