Market Sentiment Improved By &Nbsp; Canadian Dollar Rose Sharply Against The US Dollar On Friday.
Because
data
The German business climate index was better than expected, and the US durable goods orders data stimulated investors.
economic growth
The Canadian dollar rose sharply against the dollar on Friday (September 24th).
US dollars /
Cad
The intraday refresh the 1.0222 lowest level in the day, and the current exchange rate is near the 1.0270 level.
According to data released by IFO, a German think-tank, Germany's Ifo business climate index increased from 106.7 in August to 106.8 in September, the highest level since June 2007, better than the median 106.2 expected by economists.
Meanwhile, the data released by the US Department of Commerce (DOC) showed that the US monthly rate of orders for excluding non military capital durable goods increased by 4.1% in August, and that it was expected to rise by 2%. In July, it revised down 5.3% and the initial value dropped 7.2%.
Dean Popplewell, an analyst with Oanda Corp, an online Forex Dealer, said Germany and the US showed better economic data and improved market sentiment.
Shaun Osborne, currency strategist of TD Securities, points out that the rise of the dollar reflects the weakening trend of the US dollar as a whole.
Beijing time 01:54, US dollar / Canadian dollar 1.0270/74.
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