FOREX TradingCharts.com

Forex News: Canadian Dollar Slides Amid Risk Aversion

Canadian Dollar Slides Amid Risk Aversion

09/16/2019 - 06:22:00 (RTTNews)

(RTTNews) - The Canadian dollar drifted lower against its major counterparts in the early European session on Monday amid risk aversion, as weak China data stocked worries over global growth, while the attacks on Saudi's crude facilities raised geopolitical worries.

Industrial output growth unexpectedly weakened to 4.4 percent in August from the same period a year earlier, the slowest pace since February 2002 and down from 4.8 percent in July.

Retail sales and investment figures also disappointed amid rising trade pressure and softening domestic demand.

Drone attacks at Saudi Arabia's oil production facilities in Abqaiq and Khurais heightened geopolitical tensions in the Middle East.

The currency has been trading lower against its major counterparts in the Asian session, excepting the euro.

The loonie dropped to 1.3261 against the greenback and 1.4692 against the euro, from its early highs of 1.3209 and 1.4635, respectively. The next possible support for the loonie is seen around 1.35 against the greenback and 1.49 against the euro.

The loonie edged down to 0.9120 against the aussie, off an early high of 0.9071. If the loonie slides further, 0.945 is likely seen as its next support level.

The loonie fell back to 81.32 against the yen, heading to pierce an early 1-week low of 81.24. The loonie is seen finding support around the 78.5 mark.

Looking ahead, Canada existing home sales for August and New York Fed's empire manufacturing activity for September are due in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Pound Climbs On Brexit Deal Optimism (07 hr(s), 09 min(s), 12 sec(s) ago)
(RTTNews) - The pound strengthened against its major counterparts in the European session on Monda ...Full Story»

Australian Dollar Advances On Risk Appetite (09 hr(s), 57 min(s), 12 sec(s) ago)
(RTTNews) - The Australian dollar strengthened against its most major counterparts in the European ...Full Story»

Pound Strengthens Against Majors (13 hr(s), 36 min(s), 11 sec(s) ago)
(RTTNews) - The pound climbed against its key counterparts in early European deals on Monday. ...Full Story»

Euro Little Changed After German PPI (14 hr(s), 51 min(s), 12 sec(s) ago)
(RTTNews) - Following the release of German producer prices for September at 2:00 am ET Monday, th ...Full Story»

Euro Mixed Ahead Of German PPI (15 hr(s), 0 min(s),11 sec(s) ago)
(RTTNews) - At 2:00 am ET Monday, Destatis will release German producer prices for September. ...Full Story»

Turkish Lira Trades At 11-day High Against U.S. Dollar (07 hr(s), 54 min(s), 11 sec(s) ago)
(RTTNews) - The Turkish Lira traded higher against the U.S. dollar in the European session on Frid ...Full Story»

Australian Dollar Extends Rally (09 hr(s), 33 min(s), 12 sec(s) ago)
(RTTNews) - The Australian dollar continued to be higher against its major counterparts in the Eur ...Full Story»

Pound Rises Against Majors (11 hr(s), 42 min(s), 12 sec(s) ago)
(RTTNews) - The pound advanced against its major counterparts in early European deals on Friday. ...Full Story»

Search

FOREX NEWS

Pound Climbs On Brexit Deal Optimism

10/21/2019 - 09:46 AM (RTTNews)
(RTTNews) - The pound strengthened against its major counterparts in the European session on Monda ...Full Story>>

Australian Dollar Advances On Risk Appetite

10/21/2019 - 06:59 AM (RTTNews)
(RTTNews) - The Australian dollar strengthened against its most major counterparts in the European ...Full Story>>

Pound Strengthens Against Majors

10/21/2019 - 03:20 AM (RTTNews)
(RTTNews) - The pound climbed against its key counterparts in early European deals on Monday. ...Full Story>>

Euro Little Changed After German PPI

10/21/2019 - 02:05 AM (RTTNews)
(RTTNews) - Following the release of German producer prices for September at 2:00 am ET Monday, th ...Full Story>>

Euro Mixed Ahead Of German PPI

10/21/2019 - 01:56 AM (RTTNews)
(RTTNews) - At 2:00 am ET Monday, Destatis will release German producer prices for September. ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.