RTTN: Canadian Dollar Declines Against Most Majors
(RTTNews) - The Canadian dollar traded lower against most major opponents during early New York morning deals on Tuesday.
Against the US dollar, the loonie edged down in European and early New York sessions and currently trading near a multi-day low of 1.0426.
The loonie tumbled further against the Japanese yen in today's early North American session and as of now trading at a fresh multi-day low of 80.41.
The Canadian currency also showed weakness against the Australian dollar and presently worth 0.9508 from previous session's multi-day high of 0.9464.
The petro-linked loonie showed weakness versus other majors as the price of crude oil was moving down today morning amid weak equities after an industry group said some German banks may need new capital.
Light Sweet Crude Oil (WTI) futures for October delivery were down $1.65 to $72.95 a barrel. Last week, oil settled almost flat after oscillating between $75.58 and $71.53 a barrel.
This week traders will look to weekly inventories data from the API and EIA, apart from building permits, weekly jobless claims and August trade balance data from the U.S.
