Sunday, 28 August 2011

Canadian Dollar Receives Hit from US

Canada’s dollar plunged nowadays as demand for the nation’s assets deteriorated as a result of pessimistic outlook for the economy of the biggest nation’s trading partner — the US.

The depressed mood caused fall of equities and decline of commodities. The MSCI World Index of stocks slumped 1.9 percent, while the standard & Poor’s 500 Index fell as much as a pair of.1 percent.

There are positive sing, though, which will precede a change of the trend. The S&P/TSX Composite Index rose zero.4 percent. Crude oil, the most export of Canada, rallied 3.2 percent to $81.82 per barrel. Yield on the two-year government bonds fell 5 basis points to zero.81 percent.

USD/CAD jumped from 0.9771 to 0.9921 as of 19:19 GMT today. EUR/CAD advanced from 1.4044 to 1.4088 after reaching the intraday high of 1.4174. CAD/JPY fell from 78.70 to 77.38 and declined during the day to 76.82, the lowest level since March 2009.

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