Canadian Dollar Weakens Amid Commodity Decline, Growth Concern
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Canada’s dollar fell for a second week against its U.S. counterpart as commodities declined and concern increased that growth is slowing in the world’s 11th-largest economy.
The currency slid versus 13 of its 16 most-traded peers as manufacturing sales fell the most since 2009. The data followed a report last week that showed an unexpected drop in jobs. Canada’s dollar traded in the tightest range in a month versus the greenback as crude oil, the nation’s biggest export, reached a three-week low. The inflation rate slipped to the lowest in more than three years, a report next week may say.