Canada Dollar Gains as Risk Appetite Rises on U.S. Manufacturing
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The Canadian dollar strengthened from almost a three-month low versus its American counterpart as an unexpected rise in a gauge of manufacturing in the U.S., Canada’s biggest trading partner, boosted appetite for risk.
Canada’s currency, nicknamed the loonie for the image of the aquatic bird on the C$1 coin, gained versus the majority of its 16 most-traded peers after a private report said U.S. companies added more workers than forecast. The loonie fell earlier before data tomorrow forecast to show Canadian job growth slowed and the U.S. unemployment rate increased.