Canadian Dollar Continues to Weaken in Forex Trading

November 19, 2008

Loonie declines in currency trading on the FX marketThe Canadian dollar continues to weaken in forex trading on the currency market. As global stocks decline in response to a worldwide recession, and as oil prices continue to struggle, the loonie finds itself weaker in currency trading.

Because the Canadian dollar is a commodity currency, it relies on the global economy to support it. Equities and commodities show signs that global demand for materials is decreasing, and as a supplier (especially of oil), that is affecting the loonie.

See Also

• The Canadian Dollar in Forex Trading
  Currency trading on the FX market

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