Currency Note Worldwide

Canadian dollar weakens despite commodities rally

By Smart Currency May 18th, 2016

Canadian stocks rose for a second day as commodities continued to rally amid the increase in value of both crude oil and gold. However, while the Canadian stock exchange improved greatly, its dollar was among the worst performers, with only the Norwegian Krona performing worse than it.

Canadian manufacturing sales data released yesterday was below expectations, and a we saw a peak in the Canadian dollar price just after 12.30pm. Today and tomorrow there is very little out of Canada that will cause any movements, but Friday’s G7 meeting and inflation data should cause more volatility.

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