Canadian stocks fall
The Canadian currency has depreciated against the greenback for the fourth consecutive day on the view that risk appetite is slackening and commodity prices are falling. The Canadian currency, along with the South African rand and Australian dollar is closely tied to commodity prices and international risk appetite, at present concerns that the commodity rally has outpaced actual recovery is weakening CAD sentiment.
The Canadian currency performed below the pound and Mexican peso with regard to the US dollar, weakening nearly 3% in the last month. However, there are strong signs that a Canadian recovery is underway, with the economy shedding only 15,000 jobs in August, significantly less than the 44,000 the previous month.
Currency rates for the Canadian dollar are currently valued at GBP0.5561, EUR0.6345 and USD0.9038.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.