From mint · · 40s
Canadian Dollar Weakens as Oil Prices Drop
Canadian dollar falls against most G10 currencies as oil prices drop.
In brief
Canadian dollar falls against most G10 currencies as oil prices drop. Canadian dollar underperforms most G10 currencies due to falling oil prices and weak job data. Originally reported by mint.
Canadian dollar steady
Canadian dollar steadied against US dollar at 1.4135 per US dollar.
Oil prices fall
US crude oil futures dropped 3.5% to $87.64 a barrel.
Job data weakens
Canadian unemployment rose to 6.7% in October, a six-month high.
Interest rate expectations
Investors see 40% chance of Bank of Canada rate hike in December.
The key point
Canadian dollar underperforms most G10 currencies due to falling oil prices and weak job data.
