The Canadian dollar was mixed today, rising versus the US dollar and the Japanese yen, but falling against the euro and the Swiss franc.
The loonie got some support from the rising crude oil prices. Futures for crude gained more than 1% in New York as traders were waiting for US supply reports.
Looking ahead, there will be a couple of events that can potentially be important for the Canadian currency. Stephen Poloz, Bank of Canada Governor, will speak tomorrow, and his comments may provide insight into plans of the central bank. On Friday, GDP data for April will be released. Analysts predicted that it would show growth of 0.2% — slowdown from the 0.5% in the preceding month.
USD/CAD dropped from 1.3242 to 1.3169 as of 18:51 GMT today. CAD/JPY rallied from 84.42 to 85.13. At the same time, EUR/CAD gained from 1.4804 to 1.4931 and CAD/CHF declined from 0.7337 to 0.7289.
If you have any questions, comments or opinions regarding the Canadian Dollar,
feel free to post them using the commentary form below.
