Loonie Firm Against USD

Despite signs of weakness in recent economic fundamentals, the loonie appreciated against the U.S. dollar for a second consecutive week, finally ending the week up 0.75%. Many observers have pointed out that the Canadian dollar is supported by the price of WTI crude as popularity of Canadian securities have certainly contributed to the CAD’s impressive resilience. Turning to economic news, Friday was particularly busy in Canada where market watchers were somewhat disappointed with the new data. In the U.S., the Federal Reserve released the minutes of the FOMC’s latest meeting.

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