The Canadian Dollar has declined against its US relation and the majority of its most traded peers after economic data revealed that the number of applicants for unemployment benefits in the USA rose to its highest level in six-weeks.
According to the US labour department the number of people claiming unemployment benefits jumped by 32,000 to 360,000 in the week ending on May the 11th, adding to Thursdays gloom was the release of separate report that showed that the cost of living in the United States increased for a second straight month. The US consumer price index declined by 0.4%, its biggest fall since December 2008. The figure beat economist expectations of a fall to 0.3%.
“Everything that came out from the U.S. was miserable,” Camilla Sutton head of currency strategy at Bank of Nova Scotia in Toronto, said in a telephone interview with Bloomberg news. “Not particularly good for the US Dollar, so we’ve already seen a reaction there where we have Euro rallying well up over $1.29. And we have Canada’s Dollar attempting to rally back as well; though the truth of the matter is negative data for the U.S. ultimately is negative for Canada.”
The ‘Loonie’ was also weighed down by data that showed that foreigners were the net purchasers of Canadian securities in March which were led by federal government bonds.
Current Canadian Dollar (CAD) Exchange Rates
The Canadian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9811
The Canadian Dollar /Euro Exchange Rate is currently in the region of: 0.7627
The Canadian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.6451
The Canadian Dollar/Australian Dollar Exchange Rate is currently in the region of: 1.000
The Canadian Dollar /New Zealand Dollar Exchange Rate is currently in the region of: 1.1204
The Pound Sterling/Canadian Dollar Exchange Rate is currently in the region of: 1.5501
The US Dollar/ Canadian Dollar Exchange Rate is currently in the region of: 1.0191
The Euro/Canadian Dollar Exchange Rate is currently in the region of: 1.3110
The New Zealand Dollar/Canadian Dollar Exchange Rate is currently in the region of: 0.8299
The Australian Dollar/Canadian Dollar Exchange Rate is currently in the region of: 0.9993
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