Canada Dollar Trades Within Half-Cent of Parity for Fourth Day
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Canada’s dollar traded within half a cent of parity with its U.S. counterpart for a fourth straight day as crude oil, the nation’s biggest export, fell from a nine-month high while American stocks rose.
The currency, called the loonie for the image of the aquatic bird on the C$1 coin, erased earlier losses as equities reversed a retreat after sales of previously owned American homes rose more than forecast. The U.S. is Canada’s biggest trade partner. The loonie had slid as stocks dropped, crimping demand for riskier assets.