Good days folks, we reported CAD Canadian dollar dropped earlier in trading as the news about US retail data caused a general pull back for riskier currencies. Since the United States is a major trading partner, the news about retail sales was a bit of a blow for the CAD. However, some of the losses have been pared as oil prices top $101 a barrel, and as the ZEW shows hope for the eurozone economy, we see it and wait it what the majority traders respons
By the way, A bit of uncertainty has appeared in the financial markets, and that is helping the US dollar gain today against other currencies. Even though the spread between the three-month dollar, and for Libor and overnight index swaps narrowed, there are still indications of stress in the markets. Uncertainty about the eurozone remains, and concerns about US retail sales are weighing on high beta currencies.
Meanwhile, from GBP/USD Falls as CPI Slows, Moody's Says Outlook is Negative, The Great Britain pound fell against the US dollar, though held versus the Japanese yen, after inflation slowed last month and Moody's said that the nation's credit rating is in danger of downgrade
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