The Canadian dollar was attempting to rise against its US peer today but has almost erased its gains by now. The currency fell against its other major rivals, including the euro and the Japanese yen.
Canada’s wholesale sales dropped 0.1 percent in September, the same as in August. The actual reading was a way off analysts’ forecasts that had promised an increase by 0.2 percent. On top of that, crude oil was demonstrating lackluster performance today with the Brent grade falling more than 1 percent.
The loonie was unable to hold its ground versus the greenback, which itself was rather soft today. Of course, the Canadian dollar performed even worse against those currencies that were strong today, the euro and the yen being among them.
USD/CAD was down from 1.3303 to 1.3246 intraday but bounced to 1.3297 as of 21:06 GMT today. EUR/CAD gained from 1.4178 to 1.4274. CAD/JPY declined from 92.88 to 92.37.
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