Canadian Dollar Profits on National Data, Oil

Canadian Dollar Profits on National Data, Oil

After one of the worst week start for the loonie until this Wednesday, the Canadian dollar rose again as both national data as well as the oil markets pushed the North American currency up in forex markets.

Canadian whole sales rose much beyond expectations for data released last month, and after the G-7 announced a plan to aid Japan combined with a UN decision to bomb Qaddafi's troops forcing the crude up, Canada's dollar found a perfect scenario to climb versus of the main traded currencies in forex markets today.

Source: Canadian Dollar Profits on National Data, Oil