The Canadian dollar rallied yesterday as positive macroeconomic reports made investors willing to risk and buy assets associated with higher yield. The currency maintains the gains today so far.
Falling US jobless claims and growing Britain’s economy improved the mood of traders. The positive sentiment resulted in rising prices for crude oil, the major Canada’s export. Futures for crude jumped as much as 2 percent to $93.28 per barrel in New York yesterday.
Today’s economic data is expected to be also favorable. Analysts predict that the report will show growth of US economy by 3.1 percent in the second quarter of this year following the advance by 0.4 percent in the first quarter...continue
Falling US jobless claims and growing Britain’s economy improved the mood of traders. The positive sentiment resulted in rising prices for crude oil, the major Canada’s export. Futures for crude jumped as much as 2 percent to $93.28 per barrel in New York yesterday.
Today’s economic data is expected to be also favorable. Analysts predict that the report will show growth of US economy by 3.1 percent in the second quarter of this year following the advance by 0.4 percent in the first quarter...continue