Canadian Dollar Weakens Against Most Majors
June 14 2009 - 7:44PM
RTTF2
The Canadian dollar showed weakness against most of its major
counterparts after the release of some economic data during New
York morning deals on Monday.
Canadian manufacturing sales fell less than expected in April,
edging down 0.1% from the previous month to $41.0 billion,
according to data released Monday morning by Statistics Canada.
Economists were expecting manufacturing sales to drop more than 1%
in April.
The Canadian currency extended European session's downtrend
against the US dollar in New York morning session and currently
trading near new multi-week low of 1.1379.
According to a report released by the New York Federal Reserve
today, its general business conditions index fell to a negative 9.4
in June from a negative 4.55 in May, with a negative reading
indicating a deterioration in conditions. Economists had expected
the index to edge down to a negative 5.10.
The loonie traded down against the Japanese yen in New York
deals today. At 11:20 am ET, the loonie dropped to an 11-day low of
86.12 versus the yen, compared to Friday's New York session close
of 87.99.
The loonie also ticked down against the British pound and
dropped to a fresh multi-month low of 1.8548 by about 8:00 am ET.
Currently, the loonie is trading near 1.8478 versus the pound from
last week's close of 1.8394.
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