RTTN: Canadian Dollar Plunges To More Than 3-week Low Against Euro
(RTTNews) - The Canadian dollarextended its previous session's downtrend against other majors as oil price fell below $76 per barrel during Thursday's early North American session. The loonie slipped to more than a 3-week low against the euro and more than a 2-week low against the yen.
U.S. crude for August fell 68 cents to $75.67 a barrel today.
The Canadian dollar has been extending its downtrend against the currency of Japan during early North American session on Thursday. The Canadian dollar fell to more than a 2-week low of 85.55 at 8:10 am ET. Presently, the loonie is worth 85.77 against the yen with 85.20 seen as the next downside target level.
The Canadian dollar pared recent gains against its Australian counterpart on Thursday's early North American session. Moving down from a high of 0.9019 hit at 7:35 am ET, the loonie fell to 0.9054 against the aussie at 8:45 am ET. Presently, the loonie is worth 0.9045 against the aussie, compared to yesterday's closing quote of 0.9091.
The loonie has been extending its previous session's downtrend against the greenback during Thursday's early North American session. The loonie hit a low of 1.0451 against the dollar in European session. As of now, the loonie is worth 1.0432 against the greenback, compared to 1.0399 hit at yesterday's New York session close.
The reports of U.S. durable goods orders for May and jobless claims data for the week ended June 19 may had an impact on the dollar's movements.
Against the euro, the Canadian dollar continue to creep lower during early North American session on Thursday. At present, the loonie is trading at more than a 3-week low of 1.2840 against the euro, compared to yesterday's closing quote of 1.2802.
In economic news, the euro-zone industrial new orders rose at a slower pace of 0.9% month-on-month in April, compared with March's revised increase of 5.1%, statistical office Eurostat said today. Economists had forecast 1.6% rise.
Apart from the euro-zone data, few reports including French consumer spending for May, Italian retail sales for April and unemployment data for the first quarter, released today likely influenced the euro.
