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Canadian Dollar followed market flows on Thursday

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The Canadian Dollar (CAD) followed behind overall market flows on Thursday, pushed around by volumes in other, more interesting currencies as CAD traders await Friday’s Canadian labor numbers.

The Canadian Dollar was led by the nose through markets on Thursday. Canada remains absent from the economic calendar until Friday’s labor data. US jobless figures chill recent recession fears, but key inflation data looms ahead. The Canadian Dollar followed behind overall market flows on Thursday, pushed around by volumes in other, more interesting currencies as CAD traders await Friday’s Canadian labor numbers.

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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