After a break on New Year's Day, the Canadian dollar resumed trading down almost a cent from where it ended 2014, and was trading hands at just over 85 cents US.
The sell-off appeared to be largely driven by strength in the U.S. dollar, as opposed to weakness in Canada's currency.
Virtually all of the world`s major currencies have been losing ground when compared to the U.S. dollar of late, because the greenback is perceived to be a safe haven that people flock to during times of uncertainty.
The euro on Friday fell to its lowest level since 2010, down 0.7 per cent to $1.2007 US. Indeed, the U.S. dollar was higher Friday against all 16 of the world's biggest currencies, which doesn't include the loonie.
"The main flavour, the main theme, is very much U.S. dollar strength," Bloomberg quoted Westpac Bank's currency strategist Richard Franulovich as saying.
The Canadian dollar lost more than half a cent on Friday due in part due to more weakness in oil markets. (Paul Chiasson/Canadian Press)
But a big part of the loonie's recent weakness is related to the continuing slide in oil.
Canada's currency is closely linked to the price of a barrel of oil, which means the loonie has been hammered lowered as the world realizes we're pumping far more oil than we need at the moment.
"Oil prices are flirting with their lows and remain an important weight on [the Canadian dollar]," Scotiabank said in a note to clients Friday.
The price of a barrel of North American oil flirted with the $52-a-barrel mark before recovering later in the day.
If the loonie sell-off continues to the end of the day Friday, it could be the worst day for the Canadian dollar since last February.
Anda sedang membaca artikel tentang
Canadian dollar down almost a penny to just above 85 cents US
Dengan url
http://politikduniabarat.blogspot.com/2015/01/canadian-dollar-down-almost-penny-to_4.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Canadian dollar down almost a penny to just above 85 cents US
namun jangan lupa untuk meletakkan link
Canadian dollar down almost a penny to just above 85 cents US
sebagai sumbernya
0 komentar:
Posting Komentar