Canadian Dollar falls further as Canadian Trade Balance contracts
- The Canadian Dollar lost another quarter percent on Tuesday.
- Canada saw a steeper-than-expected contraction in trade balance figures.
- Fed Meeting Minutes to reveal further details about Fed’s latest rate moves.
The Canadian Dollar (CAD) shed another quarter of a percent against the Greenback on Tuesday, trimming lower slipping back against the US Dollar for a fifth straight trading day. The CAD has shed almost 2% against the Greenback since peaking in late September.
Canada’s trade balance contracted more than expected in August, with Exports falling and Imports clocking in only a minor upswing. US trade balance figures moderated, and Fedspeak continues to dominate market flows as investors look for signs of more rate cuts.
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