Canadian Dollar Struggles Ahead of Economic Reports

The Canadian dollar was little changed yesterday, supported by risk appetite of Forex traders, but is falling today on concerns that this week’s reports from Canada will not be good.
The currency (often nicknamed loonie) attempted to rally against its US peer at the start of this week as investors were willing to buy riskier assets. China, which is preparing liberal reforms, caused the appetite for risk.
Yet the loonie was not able to maintain the rally amid concerns that domestic fundamentals will not be particularly supportive. This week reports about retail sales and consumer inflation will be released and analysts think that they will show a decline of the indicators. Central bank Governor Stephen Poloz will speak this week and his speech may influence the Canadian currency strongly.
USD/CAD was up to 1.0432 as of 2:40 GMT today after falling from 1.0435 to 1.0427 yesterday. EUR/CAD rose from 1.4082 to 1.4102, while CAD/JPY fell from 95.86 to 95.53.

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