The Canadian dollar was moderately changed amidst weaker oil prices Monday, as investors took a breather after the market volatility last week.
US light crude oil ended below $42 a barrel, somewhat pressured by a firm US dollar and news the Japanese economy degenerated in the second quarter.
The loonie stood at 76.42 US cents from Friday’s 76.38 US cents.
Traders may be expecting for the minutes from the Federal Reserve and the Bank of Canada. “We do have a bunch of data toward the end of the week,” said Mark Chandler, Head of Canadian Fixed Income and Currency Strategy at RBC Capital Markets.
Meanwhile, Statistics Canada reported foreign investment in securities escalated as portfolio adjustments saw investors go into the money market.
The material has been provided by InstaForex Company – www.instaforex.com