Forex

Loonie inches down despite upbeat data

2019-02-11 16:27:55 GMT (Economies.com)

Canadian dollar lost ground against its southern counterpart despite upbeat labor data for January, while investors look towards US-China trade talks taking place soon. 

 

The Canadian economy added 66.8 thousand new jobs in January, underpinning loonie while still facing pressures. 

 

Otherwise, the Chinese market was closed throughout last week for the new lunar year holiday, before opening the week on a steady note. 

 

A US delegation led by treasury secretary Steven Mnuchin traveled to China to conduct talks with officials in Beijing in another attempt to reach a compromise and solve the trade dispute. 

 

As of 16:03 GMT, CAD/USD shed 0.2% to 0.7514, with an intraday high at 0.7545, and a low at 0.7507. 

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