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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Loonie falls against greenback after reports shows inflation slowed

Aug 17, 2012 03:14 PM

The Canadian dollar lost value against the world's reserve currency on Friday, marking the first day of slippage against its southerly rival in four trading sessions, Bloomberg reports.

Economic data released by Statistics Canada indicated the pace of inflation has dropped, which bolsters the idea that the Canadian economy is pulling away from reaching full capacity. The loonie was driving toward a sixth consecutive week of gains against the U.S. dollar, matching its best in about 24 months. But losses to the currency on Friday cut into the weekly gains.

Declines suffered by the monetary unit of Canada gained momentum following the report's release because "today's data suggest little near-term inflationary pressures in the domestic economy, another reason for the Bank of Canada to keep rates on hold," economist Emanuella Enenajor with CIBC World Markets told The Canadian Press.

The commodity-linked monetary unit also lost value on Friday as a result of declines to crude oil, which is the top commodity of the natural-resources-rich nation.

Losses to the Canadian dollar come one day after it touched its highest value in three-plus months against its southerly rival, according to The Canadian Press.

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