- The Canadian dollar started the week slowly as it was held steady at the 6-year lows that it finished at last week. Official data showed that foreign securities purchases rose by C$5.73 billion in January, the increase greater than analysts had anticipated. However, gains for the Canadian currency were kept to a minimum as US industrial production data ensured that the US dollar held sway over the Canadian dollar.
- Monday was a good day for the southern hemisphere’s most-traded currencies as the Australian dollar jumped up, following the release of upbeat Australian motor vehicle sales data. According to the Australian Bureau of Statistics, new motor vehicle sales rose 2.9% last month, showing positive signs after a less-than-impressive figure for January.
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