Thursday, May 14, 2009

Citigroup: a decline of stock markets is not conducive to the growth of the Canadian dollar

Canadian Dollar decreases the second day in a row against the backdrop of the fall of the indices on world stock markets and declining prices for commodities such as crude oil, copper and aluminum, which contributes to the growing demand for the dollar as a currency of refuge. According to analysts Citigroup, the growth in the markets of risky assets has become less certain. The bank has continued to adhere to the positive structural prediction of the Canadian dollar, although the thought that the growth will be limited due to the flow of the mixed data. The Canadian currency fell by 0.1% to C $ 1.1756 to the dollar compared to C $ 1.1741 on Wednesday. One Canadian dollar can be purchased for 85.06 U.S. cents. Since when was a 54-month minimum, the Canadian currency has risen by 11% against the dollar.

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