The Canadian dollar tumbled on Tuesday versus the US dollar, as the latter rebounded from Friday’s disappointing US jobs data and traders resumed trading following the prolonged Easter weekend.
But the loonie remained an outperformer against several major counterparts.
It is more of the overall US dollar firmness story… although it disappointed, “we don’t want to read too, too much into a single data point,” said David Tulk, Chief Canada Macro Strategist at TD Securities.
The loonie closed at $1.2504 per greenback or 79.97 US cents, from yesterday’s C$1.2478 or 80.14 US cents.
Meanwhile, the markets will await the Canadian employment figures for March, to be released Friday.
The material has been provided by InstaForex Company – www.instaforex.com