The Loonie lost 0.21 percent versus the Greenback in yesterday’s session, and it is falling an extra 0.12 percent this morning. There is no important economic data until Friday, when the gross domestic product numbers are published. The US dollar soared steadily against the G-10 major currencies yesterday and then consolidated those gains during the overnight session.
It seems that the North American equity indexes are set to follow European indexes at lower levels, and this might be helping the US dollar to increase against the Loonie.
General Motors’s news contributed to a deteriorated mood in the Loonie, after the market knew that General Motors would close its plant in Oshawa, Canada. Furthermore, the Canadian dollar is still bemused from the plunge in crude.