Canadian dollar returns most advances as equities dive
May 6, 2015 1:16 am
The Canadian dollar relinquished most of its gains versus the US dollar Tuesday, as investor uncertainty held equities lower and offset early figures showing a leap in Canadian and US trade deficits.
A Canadian trade deficit of C$3.02 billion ($2.50 billion) in March lifted the loonie, but the weakness of the greenback placed the currency in firmer territory as it lost momentum against other major counterparts.
Closing out the day, the currency is the “worst-performing G10 currency other than the US dollar,” said Jack Spitz, Managing Director of Foreign Exchange at National Bank Financial.
The loonie stood at 82.84 US cents from Monday’s 82.70 US cents.
Investors were monitoring the outcome of the election in the western Canadian province of Alberta Tuesday.
The material has been provided by InstaForex Company – www.instaforex.com
The Canadian dollar relinquished most of its gains versus the US dollar Tuesday, as investor uncertainty held equities lower and offset early figures showing a leap in Canadian and US trade deficits.
A Canadian trade deficit of C$3.02 billion ($2.50 billion) in March lifted the loonie, but the weakness of the greenback placed the currency in firmer territory as it lost momentum against other major counterparts.
Closing out the day, the currency is the “worst-performing G10 currency other than the US dollar,” said Jack Spitz, Managing Director of Foreign Exchange at National Bank Financial.
The loonie stood at 82.84 US cents from Monday’s 82.70 US cents.
Investors were monitoring the outcome of the election in the western Canadian province of Alberta Tuesday.
The material has been provided by InstaForex Company – www.instaforex.com
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