The Canadian dollar was mixed today, rising against some rivals while falling versus others. Factors that were driving the currency today were the outlook for the nation’s economic growth and movement of crude oil prices.
Statistics Canada will release a report on gross domestic product on Friday. Ahead of the release, analysts predicted that it will show a slowdown of economic growth to 0.2% last quarter from 0.5% in the previous three months. The agency will also release the Raw Material Price Index and the Industrial Product Price Index the same day.
Meanwhile, crude oil retreated after rising earlier. Currently, North American oil trades 0.68% below the opening level at $57.04 per barrel, while the Brent grade dropped 1.23% to $64.40 per barrel.
USD/CAD declined from 1.3212 to 1.3195 as of 15:38 GMT today, touching the low of 1.3177 during the trading session. EUR/CAD advanced from 1.5022 to 1.5038. CAD/JPY rose from 81.15 to 81.28, while its session high was at 81.48.
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Canadian Dollar Mixed on Economic Outlook, Crude Oil Prices
