The loonie is down again in currency trading on the FX market today. After yesterday's Bank of Canada rate cut, the Canadian dollar is struggling in forex trading.
USD/CAD is expected to test 1.2435 today in FX trading as the economic news out of Canada continues to be weaker than many would like. For the most part, consolidation is the key right now, but there is a definite bullish flavor to the proceedings.
With the Canadian dollar relying heavily upon the exports of its good for support in currency trading on the FX market, it is no surprise that the slow global economy is causing problems for the currency in FX trading.
USD/CAD is expected to test 1.2435 today in FX trading as the economic news out of Canada continues to be weaker than many would like. For the most part, consolidation is the key right now, but there is a definite bullish flavor to the proceedings.
With the Canadian dollar relying heavily upon the exports of its good for support in currency trading on the FX market, it is no surprise that the slow global economy is causing problems for the currency in FX trading.
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