Canada Dollar falls for Third Week as Economy Trails U.S. Pace
July 6 , 2013
The Canada Dollar touched its weakest level since Oct. 4, 2011 yesterday and it is going to continue to weaken according to Adrian Miller, the head of fixed-income strategy at GP Securities LLC. The reason according to him is that the private sector as a whole is still losing jobs and that business investment is going to struggle to materialize.
Canada's employment was a little changed, with 400 jobs lost in June after adding 95,000 the month before, the most in more than a decade. Moreover, building permits also dropped in May.
The U.S. employment growth, on the other hand exceeded forecasts and that added to evidence the two countries' economies are diverging.