Forex trading with the loonie
The Canadian dollar is advancing in currency trading on the FX market today. With risk appetite improving, it is no surprise that the U.S. dollar is falling in forex trading to the loonie.
Indeed, with the stock market still doing relatively well (it’s down, but not by much), and with pledges out of the G20 summit, things are set to favor the Canadian dollar in currency trading.
With the global economy expected to improve as nations make efforts to keep capital flowing and stimulate their economies, commodity currencies like the loonie will benefit. Additionally, other currencies will have the chance to rise again with the U.S. dollar no longer needed as a safe haven currency.
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