Forex: USD/CAD falls 0.45% to reach 1.1982, fresh 3-months high

By IBTimes Staff Reporter | April 16 2009 4:23 AM

FXstreet.com (Barcelona) - USD has fallen 0.45% against the CAD along the day to go below the 1.2000 level and reach a new highest since January 12 at 1.1982. Currently, the pair is trading around 1.2000/10.

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US initial jobless claims have posted biggest drop since December 2008, a decrease of 53k to 610k in April 11 week from 663k revised claims in the previous week. Expectations were a 2k claims increases to 665k. Building permits have fallen 9,0% and housing starts have collapsed 10,8% between February and March in United States.

On the Canadian side, manufacturing shipments have risen 2.2% in February, better than 5.4% decline posted in January, but well below the 3.3% increases expected by markets. Canadian Manufacturing new orders rose 8.6% between January and February.

Yesterday USD/CAD lost 0.81% from the 1.2145 opening price, reaching 1.2186 as highest and 1.2015 as lowest, to close at 1.2045.

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