The volatility for the CAD is expected
Canada will release the level of core retail sales and CPI on March 22, at 14:30 MT time.
Canadian dollar goes down
On Tuesday, the Canadian dollar inched down versus its American rival due to the fact that an uncertain outlook for global trade compensated the lift from the highest crude prices for three months.
Another round of negotiations between China and America to tackle their trade conflict will be held in Washington on Tuesday.
Besides this, a confidential US Commerce Department report sent over the weekend to American leader was anticipated to clear the way for him to threaten levies of up to 25% on imported cars as well as car parts by simply labeling the imports as a national security threat.
By the way, Canada would be generally spared from car levies under the fresh US-Canada-Mexico Agreement on trade.
However, Canada is facing an account deficit now and it’s a key commodity producer, including crude, therefore its economy could be affected if the global flow of capital or trade speeds down.
American crude futures went up to their highest value since November 20, 2018, heading north by 0.40% being worth $55.81 a barrel, backed by lower supplies.
As a matter of fact, the Canadian dollar inched down by 0.2% concluding the trading session at 1.3271 versus the evergreen buck.
On Monday, the Canadian dollar was nearly intact, when Canada's stock as well as bond markets were unavailable due to the Family Day holiday. The previous week, the Canadian dollar went up by 0.3%.
Last Friday data from the US Commodity Futures Trading Commission as well as Reuters calculations revealed that traders reduced their bearish bets on Canada’s major currency.
Net short positions had inched down to 56,096 contracts as of January 22 from 59,524 in the previous week.
Similar
Bitcoin conquers $4,000
On Thursday, key crypto assets managed to make some gains in Asia having lost ground for two days…
Greenback dives to wager on Fed rate reversal
On Thursday, the evergreen buck faced heavy losses in Asia because the key US bank shocked the financial markets by giving up all of its plans to have rates lifted in 2019, which appears to be an indication that its three-year campaign to stabilize its…
Latest news
Weekly CryptoNews
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
Most Asian stocks post strong revenues with Nikkei rising more than 2%
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan real wages surge is slowest in almost two years
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
Deposit with your local payment systems
