The Canadian Dollar is seeing pullback as investors seek Greenback pastures. Canada Trade Balance improves but fails to inspire CAD bidding. Broad-market risk sentiment is wobbling, sending safe havens higher. A large miss for Chinese trade data coupled with hawkish statements from Federal Reserve officials are jointly hampering risk appetite. Canada trade balance figures improved over previous figures, Exports and Imports both printed slight gains for September.
USD/CAD Daily Chart Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar are the level of interest rates set by the Bank of Canada , the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports.
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Source: FXStreetNews - 🏆 14. / 72 Read more »