Canadian dollar edges up after mixed economic data

The Canadian dollar edged higher against most major currencies on Monday, following the release of mixed economic data.

The data showed that Canada's building permits index fell 14.6% during the past month, worse than forecasts of a drop by 3.8%.

The Canadian current account reading showed a deficit of C$7.5 billion in October, beating forecasts of a deficit by C$8.9 billion.

The data also showed that the raw material price index (RMPI) rose 0.5%, beating forecasts of a drop by 2%.

The American company Moderna announced on Monday that its vaccine was 100% effective at preventing severe COVID-19 in the final analysis of the third and final stage of clinical trials, adding that it is also suitable for all age groups.

As of 16:54 GMT, CAD/USD rose 0.1% to 0.7703, after hitting a day high of 0.7738 and a low of 0.7690.