March 28th 2012, Chris Fournier, Austen Sherman, Masaki Kondo, Kristine Aquino & Mariko Ishikawa, Bloomberg.com
G'day everyone,
Today the CAD saw a decline against most of its major peers as investors exited to seek a more secure site (Fournier & Sherman, 2012). The currency rose tremendously during week but quickly fell as equities and commodities fluctuate (Fournier & Sherman, 2012). The past few weeks we saw an increase in the US consumers and that has prompted fall of the CAD.
It weakened 0.4% against the USD to 99.48 cents (Fournier & Sherman, 2012).
On the other side of the world, the AUD & NZD also witnessed declines as there is a drop in Asian stocks (Kondo, 2012). Since China is an important trading partner for both Australia & New Zealand, both currencies are headed to a drop as China reports a gauge for the nation's manufacturing on April 1 and slow growth in earnings for China's industrial companies (Kondo, 2012). Both currencies fell by 0.1% against the Dollar.
To read the full articles, go here:
1) http://www.bloomberg.com/news/2012-03-27/canadian-dollar-declines-versus-u-s-peer-as-oil-stocks-waver.html
2) http://www.bloomberg.com/news/2012-03-27/australian-n-z-dollars-hold-declines-on-global-stock-drops.html
3) http://www.bloomberg.com/news/2012-03-27/dollar-holds-gain-versus-yen-before-durable-goods-report.html
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