The loonie was down by 0.6% at 1.2561 per US dollar at 8:32 a.m. ET after being little changed just minutes earlier. Core retail sales fell by 0.7% month-over-month in August, below expectations of an increase of 0.3%.
The Canadian dollar suffered its biggest drop in nine months against the greenback on Friday, after domestic data showing a drop in retail sales added to expectations that the Bank of Canada will leave interest rates on hold next week.
Wagers that the Canadian dollar USDCAD, +1.1374% which is also known as the loonie, will strengthen have reached the highest level in five-years in the period leading up to Oct. 10, underscoring investors' confidence in its economy, data from the ...
Lack of progress in NAFTA talks have led to the Canadian dollar trading softly of late. NAFTA negotiations resume in a month's time, and it appears the difficulty in the talks may already have been priced into the CAD.