Canadian Dollar Stabilizes, But Loses Ground Over the Week
The Canadian dollar stabilized on Friday, gaining slightly against the USD, but it lost ground over the week against most major currencies, including the US dollar. Thursday's higher-than-expected US consumer price index (CPI) number, a key indicator of inflation, along with the US-led coalition attack on Houthi bases, have put investors in a defensive position and contributed to the already negative market sentiment.
The Canadian dollar stabilized on Friday, gaining slightly against the USD, but it lost ground over the week against most major currencies, including the US dollar. Thursday's higher-than-expected US consumer price index (CPI) number, a key indicator of inflation, along with the US-led coalition attack on Houthi bases, have put investors in a defensive position and contributed to the already negative market sentiment.
