Disclaimer: Forex trading involves high risks, with the potential for substantial losses and is not suitable for all persons. The views expressed in this blogsite are those of the author(s) and do not necessarily reflect the official policy, position, or opinions of Global Forex Trading. Excerpt from: FX Rates
|  | | November 19, 2008 | | Loonie down in currency trading | The Canadian currency continues to fall in FX trading as oil prices hurt the economy. The loonie relies on oil prices to support it in currency trading, and the support just isn't there. Export revenue is falling, and equity declines around the world aren't helping the risk appetite situation.
A year ago, the loonie was enjoying near-parity with the U.S. dollar, and even managed to gain the upper hand on some days. Now, however, the Canadian currency has declined quite a bit in FX trading, and is once again nowhere near parity.
| Topic Tags: Canadian currency, currency FX trading, currency trading, economy, FX trading, loonie currency trading, oil prices | |
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