The Canadian dollar managed to recover quite nicely from the 11 year lows against the greenback, thanks to a weak Non-Farm Payrolls report from the US resulting in a weaker USD.
But the party may have come too soon. First, a weak US economy means less demand for Canadian products. But also Canada’s main export, oil, isn’t exactly on the rise.
Read the rest of the article USD/CAD extends fall, but oil glut set to weigh