Canadian Dollar Falls Most in Eight Weeks on Economic Slowdown
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Canada’s currency declined the most in eight weeks against its U.S. peer as global reports signaled an economic slowdown, damping demand for higher-risk assets.
The Canadian dollar dropped for a second day as euro-area services and manufacturing output fell to a 39-month low in September and China’s manufacturing probably contracted for an 11th month. An index of U.S. leading economic indicators slid in August and manufacturing in the Philadelphia region shrank for a fifth straight month in September. Canada’s inflation rate in August from a year earlier is expected to hold steady at 1.3 percent when the Statistics Canada report is released tomorrow.