Wednesday, 28 October 2009

Strong demand for risk

Economists analyze the Canadian dollar’s situation as better than other G-8 country members current economic profile and this is a strong factor to keep the loonie’s attractiveness high, even if Canada did not find a way out of recession. Currency strategists affirm that even if the loonie can be considered overpriced for the moment, it is unlikely that is rates will fall due to the strong demand for risk.

USD/CAD closed on Friday at 1.0779 from 1.0855 in the beginning of the week.

If you want to comment on the Canadian dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.

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