Canadian dollar rebounds

 Yesterday was a step in the right direction for the Canadian dollar, as it rebounded along with other commodity currencies, like its Australian counterpart, after last week’s decline. A rally in Chinese equities and a rise in commodity prices lifted global markets – as a result, Canada’s benchmark index increased by 1%. As a consequence, the Canadian currency rose almost 1 % against the US dollar. With an array of data out today – including the Bank of Canada rate statement – we can expect more movement in the Canadian dollar. However, which direction this will be in is down to the nature of the results.  Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.