27th September 2011
The Canadian dollar (CAD) is set for long-term stability but has shown weakness against the US dollar (USD) so far this month.
Forex trading for CAD has been unpredictable in recent weeks, with the currency dipping against its US counterpart, and analysts are unclear as to the long-term status of CAD at present, but many feel it could struggle in trading as the global financial crisis rumbles on.
Empowered News reports falls in oil commodity prices have impacted the currency against USD, as Canada is one of the largest exporters to the US.
However, long-term stability is mooted for CAD, as Canada has been fairly insulated from the economic worries emanating from the US and Europe in recent months.
Elsewhere, falls in the commodity sector are having an impact on other currencies at present, with the Australian dollar also having a tough time in markets.
Last week, the Sydney Morning Herald reported the currency reached a ten-month low against USD as gold and oil prices slumped.
Posted by Andrew Johnston
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