Demand for Canadian securities took a dive in August, with today’s report showing a C$3.46B downturn in the foreign purchase of domestic stocks, bonds, and money-market assets. The move has so far taken a large bite out of the value of the Canadian dollar (CAD) in forex trading.
The Canadian economy has been teetering on an edge these past two weeks with highly optimistic housing data offsetting downturns in consumer spending and a global manufacturing slowdown. Today’s investment news underscores the loss of appeal for North American markets during this time of financial stress. The CAD will likely continue to take losses until other data can support renewed interest.
Read more forex trading news on our forex blog.
Other relevant articles you may like
Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
