After a week of decline the Canadian dollar is recovering again

After a week of decline the Canadian dollar is recovering again

:After a week of decline the Canadian dollar is recovering again

After a week of decline the Canadian dollar is recovering again

It is important to note that this situation doesn't necessarily 

reflect a much better geopolitical situation which modern movements don't indicate a peaceful solution. After all, it should be remembered that Iran attacked the US military bases last week, and although the attacks weren't particularly large (regarding victims), the govt still represents imposing sanctions. Additional to the Iranians. However, it seems that investors understand that despite rising tensions, oil supplies won't be significantly affected, as we reported last week. Oil is one of Canada's most significant exports, and thus , the energy sector itself accounts for about 7.9% of Canada's GDP, which makes its currency very sensitive to movements during this market. the rise of the US dollar also affected the price of the Canadian dollar , particularly with the approach to signing the "phase 1" agreement between the and China additionally to those factors, the Canadian balance of trade data released last week didn't help the Canadian dollar Index because Canada may be a very enthusiastic to trade. Data indicate Canadian exports fell for the third consecutive month in November, 2.8% but in October, the while, imports fell 1.8% and thus , the gap was negotiated at about 1.1 million Canadian dollars. according to Statistics Canada, this happened at the highest of November 2019, and it had been Canada's longest railway strike that lasted eight days, and had a significant impact on imports and imports. Canada's energy exports fell 8.5% because of the October 

After a week of decline the Canadian dollar is recovering again

pipeline. Despite these unfortunate events, the Bank of Canada recently saws that tensions are decreasing (or during a robust way, the threat of imminent battles appears to be diminishing), and thus , the worldwide economic situation focuses on improving. However, banks remain cautious about the potential impact of potential trade agreements between the us and China.sure because us and China may will sign an agreement, the potential negative risks appear to be diminishing, all of which may be monitored over subsequent year," the governor said on Thursday. Bank of Canada, S.M - Unlike its counterparts in developed countries, the Bank of Canada has consistently avoided cutting interest rates and has remained at 1.75% since October 2018. Banks are cutting cash interest rates and using monetary facilities to tackle the slowdown within the process . Despite global tensions, banks justify their decision to stabilize prices, Canadian inflation levels remain on the brink of their targets, and thus , the Canadian economy, unlike the us and thus , the ecu Union , is on the brink of potential production. he was working. Despite the above, the Canadian dollar recovered again on Friday after the market learned that Canadian unemployment had unexpectedly declined from 5.8% last month to 5 .7% in December.