Canada Struggling to Save Loonie
World Economy

Canada Struggling to Save Loonie

Canada’s economic recovery is lagging so far behind the US that even a rebound in crude prices is failing to boost the nation’s currency.
The four-week correlation between the Canadian dollar and crude fell to an 18-month low last week. With oil surging 8% in August, the loonie is up just 0.5%, trailing other commodity-linked currencies such as the Norway’s krone and the Mexico’s peso, Yahoo Finance reported. Canada’s relative economic weakness, highlighted Aug. 5 when jobs data showed America’s economy continues to gain traction while Canada’s slips, has overtaken oil as the major driver for the loonie.

Short URL : http://goo.gl/nmzxcr
  1. http://goo.gl/qUHqrb
  • http://goo.gl/QorF0H
  • http://goo.gl/RULb0L
  • http://goo.gl/za92Jh
  • http://goo.gl/YihNvL

You can also read ...

Both, Russia and China, have intensified efforts in recent years to settle bilateral trade not in US dollars, but in rubles and yuan. Gold is considered important by both countries.
The issue of when a global reserve currency begins or ends is...
Janet Yellen
As the Fed starts unwinding the stimulus it provided to snap...
Norway’s Sovereign Wealth Fund  Hits $1 Trillion
The Norwegian sovereign wealth fund, the largest in the world...
Ukraine Raises $3b in First Bond issue
Ukraine has raised $3 billion in its first sovereign bond...
Kazakh Economy Grows by 4.3%
The economic growth in Kazakhstan was at 4.3% since the...
London, Frankfurt and Paris fluttered between flat to slightly lower after eight days of gains.
Record-high world stocks paused on Tuesday and the dollar...
The IMF could write off its debt and lighten Greece’s burden.
“Beware of Greeks bearing gifts,” wrote the ancient Roman poet...
Hungary CB Rate on Hold
The Monetary Council of the National Bank of Hungary, or MNB,...