The Canadian Dollar (CAD) could not take advantage of positive economic data on Thursday and fell against major currencies, amid a decline in oil prices and as many investors are seemingly leaning towards safe havens.<\/p>\n\n\n\n
The CAD is down by 0.50% against the British Pound (GBP), with the GBP\/CAD pair trading at 1.71311 as of 5:10 p.m. (GMT).<\/p>\n\n\n\n
The JPY\/CAD is also up by 0.46%, while the USD\/CAD is up by 0.44%, with the US Dollar supported by positive economic data.<\/p>\n\n\n\n
Earlier today, data showed that housing starts in Canada increased by 212,000 over the past month, passing the 200K mark for the first time in four months.<\/p>\n\n\n\n
Oil prices fell earlier today by as much as roughly 3%, due to concerns regarding demand in the US amid the COVID-19 crisis, which also prompted the losses of the Canadian currency.<\/p>\n\n\n\n
NYMEX futures are currently down by 2.6%, trading below $40 per barrel, while Brent futures are trading at $42.43, falling by about 2%.<\/p>\n\n\n\n
The CAD is also down by 0.31% against the Swiss Franc and 0.28% against the New Zealand Dollar.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Canadian Dollar (CAD) could not take advantage of positive economic data on Thursday and fell against major currencies, amid a decline in oil prices and as many investors are seemingly leaning towards safe havens. The CAD is down by 0.50% against the British Pound (GBP), with the GBP\/CAD pair trading at 1.71311 as of …<\/p>\n","protected":false},"author":10,"featured_media":31149,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[6889,6936],"class_list":["post-31148","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-cad","tag-oil-prices"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/31148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=31148"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/31148\/revisions"}],"predecessor-version":[{"id":31152,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/31148\/revisions\/31152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31149"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=31148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=31148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=31148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}