Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Canadian Dollar Weakens for Sixth Day Before Economic Reports

Feb. 22 (Bloomberg) -- Canada’s dollar weakened against its U.S. counterpart for a sixth day in the longest losing streak since August 2011 before the release of economic data that may add to concern the world’s 11th-largest economy is slowing.

The loonie fell against 15 of its 16 most-traded peers before reports forecast to show Canada’s retail sales fell in December and the consumer price index slowed in January to the lowest in more than three years.

“The next major focal point will be CPI and retail sales,” John Curran, senior vice president at Canadianforex Ltd., an online foreign-exchange dealer, said yesterday by phone in Toronto. “While the CPI should not be a big driver unless we get a high posting, a poor retail sales number might give us a spike higher against the U.S. dollar.”

The loonie, as Canada’s currency is nicknamed for the image of the aquatic bird on the C$1 coin, depreciated 0.1 percent to C$1.0195 per U.S. dollar at 7:40 a.m. in Toronto. The currency last fell for six consecutive days from July 29 to Aug. 8, 2011. One Canadian dollar buys 98.09 U.S. cents.

To contact the reporter on this story: Taylor Tepper in New York at ttepper2@bloomberg.net

To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.