The Canadian Dollar (CAD) was at the mercy of overall market flows on Thursday, rising against the day’s weaker currencies but giving up further ground as the Greenback softens.
The Canadian Dollar churned at the mercy of market flows on Thursday. Canada reported another, albeit slower, contraction in Wholesale Sales in June. Uptick in US Retail Sales pin Greenback lower, but CAD unable to capitalize. The Canadian Dollar was at the mercy of overall market flows on Thursday, rising against the day’s weaker currencies but giving up further ground as the Greenback softens.
USD/CAD daily chart Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar are the level of interest rates set by the Bank of Canada , the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports.
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