The Canadian dollar continued to grow today after rising from the one month bottom in which it has been until yesterday. Oil rose to the record high levels above $100 per barrel recently adding interest to one of the largest
Earlier the Canadian dollar experienced a long bearish trend spurred by the recession fears in U.S. and a possible slowdown of the global economy growth, which could have pulled Canadian
Economists believe that the commodity currencies will perform better than consumer based currencies during the time of the global financial turmoil. On the other hand latter economies should import less commodities, unless they are already exiting the crisis.
USD/CAD the most traded CAD based currency pair on Forex dropped from 1.0172 yesterday to 1.0125 today. EUR/CAD declined from 1.4972 yesterday to 1.4925 today.
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