Canada's dollar closed slightly firmer on Friday, with traders shrugging off tepid domestic jobs data and focusing on upcoming efforts by European policymakers to plan a rescue for Spain's troubled banking sector.
Senior European Union and German officials said the single currency bloc's deputy finance ministers would hold a conference call on Saturday morning to discuss Spain's request for an aid package for its ailing banks.
"The market is still a little bit unsure about what's coming down next after this week's trade," said Steve Butler, director of foreign exchange trading at Scotiabank. Butler said the market was nervous about what might happen with Spain over the weekend. Concerns include who might be able to provide a bailout, and whether the IMF will have to be involved.
Following the data releases, the currency briefly touched a session low of C$1.0358, but quickly recovered to trade at the same level it was at before the report Canada's dollar closed at C$1.0270, or 97.37 US cents, barely changed from Thursday's close at C$1.0279 or 97.29 US cents.
Comments
Comments are closed.