The Canadian Dollar Exchange Rate was in the region of 0.9937 against the US Dollar as of 14:55 pm GMT
Prior to the release of a Canadian manufacturing sales report the ‘Loonie’ slid against its American rival.
Against the Euro the Canadian currency was little changed as investors focused more on the G-20 meeting than domestic developments.
One global currency strategy expert stated: ‘All the action has been in the Euro and the Yen, and not just the Canadian Dollar but other currencies generally have been a bit sidelined by that. People are so focused on the G-20 meeting and what that may or may not bring for the Yen and the heightened volatility in the Euro the last couple of days, and that’s such a strong focal point most of the other currency pairs have been sidelined.’
Despite attention being drawn elsewhere the ‘Loonie’ did experience slight movement following the publication of the manufacturing sales data.
In the report Statistics Canada revealed that manufacturing sales in the nation fell from 1.90 per cent to -3.10 per cent (when seasonally adjusted). Economists had expected the figure to come in at -1.00 per cent.
Meanwhile, a separate report compiled by the Canadian Real Estate Association showed that although sales of existing Canadian homes increased from December to January they were down significantly from the same period of the previous year.
Sales activity from December to January was up 1.3 per cent but actual, unadjusted sales for January were down by 5.2 per cent from January 2012.
CREA’s Home Price Index also posted its smallest gain for 22 months, climbing 3.1 per cent in January on the year.
The ‘Loonie’ declined against the US Dollar and Japanese Yen, but was still trading higher against the Euro as the common currency failed to recoup yesterday’s losses.
Current Canadian Dollar Exchange Rates
The Canadian Dollar to Euro exchange rate is currently trading at 0.7491
The Canadian Dollar to Pound Sterling exchange rate is currently trading at 0.6417
The Canadian Dollar to US Dollar exchange rate is currently trading at 0.9937
The Canadian Dollar to Australian Dollar exchange rate is currently trading at 0.9628
The Canadian Dollar to New Zealand Dollar exchange rate is currently trading at 1.1876
The Canadian Dollar to Emirati Dirham exchange rate is currently trading at 3.6597
The Canadian Dollar to Swiss Franc is currently trading at 0.9155
The Canadian Dollar to Japanese Yen exchange rate is currently trading at 92.9047
These exchange rates were correct as of 14:55 pm GMT
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