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|  | | November 18, 2008 | | Loonie declines in currency trading on the FX market | The Canadian dollar continues to weaken in forex trading on the currency market. As global stocks decline in response to a worldwide recession, and as oil prices continue to struggle, the loonie finds itself weaker in currency trading.
Because the Canadian dollar is a commodity currency, it relies on the global economy to support it. Equities and commodities show signs that global demand for materials is decreasing, and as a supplier (especially of oil), that is affecting the loonie.
| Topic Tags: Canadian dollar, commodity currency, currency trading, currency trading FX market, dollar forex trading, forex trading, FX market, loonie currency trading | |
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