The Canadian dollar advanced against all major counterparts Monday before the comments of Bank of Canada officials.
Markets will await the speeches from BOC Governor Stephen Poloz and Senior Deputy Governor Carolyn Wilkins before a House of Commons finance committee Tuesday.
Today is very quiet and not much in the way of figures. Although we have no new “moves up in energy prices, they look like they’re stabilizing,” said Mark Chandler, Head of Canadian Fixed Income and Currency Strategy at RBC Capital Markets.
The loonie ended at 82.64 US cents from Friday’s 82.17 US cents.
Earlier this year, the currency had receded to six-year troughs. But it started rebounding again earlier this month following the Canadian central bank rendered a more upbeat economic outlook for the second half of 2015.
The material has been provided by InstaForex Company – www.instaforex.com