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7 Oct 2013
USD/CAD climbs on Canada building permit decline and US oil demand worries
FXstreet.com (London) - Canadian dollar slides against greenback
The Loonie has fallen against the dollar on weak house building numbers, ending two days of gains.
USD/CAD has climbed 0.24 percent to CAD1.0320, after reaching a high of CAD1.0334.
According to statistics released by Statistics Canada this morning, municipal permits fell 21.2 percent to CAD6.34 billion, following its revised 21.4 percent jump in July.
Canada has also been hit by debt ceiling concerns in the US, its biggest trading partner.
The partial government shutdown is now entering its second week, with no continuing resolution in sight that would allow a temporary extension of the debt ceiling. Republican House Speaker, John Boehner has said that the Republican-controlled house will not pass a bill unless there are provisions to cut spending. Barack Obama and Democrat senators have ruled out any such move.
Worries of a knock-on effect on oil demand has widened the spread of Western Canada Select faced to West Texas Intermediate to USD34.50, a 9-month high.
The Loonie has fallen against the dollar on weak house building numbers, ending two days of gains.
USD/CAD has climbed 0.24 percent to CAD1.0320, after reaching a high of CAD1.0334.
According to statistics released by Statistics Canada this morning, municipal permits fell 21.2 percent to CAD6.34 billion, following its revised 21.4 percent jump in July.
Canada has also been hit by debt ceiling concerns in the US, its biggest trading partner.
The partial government shutdown is now entering its second week, with no continuing resolution in sight that would allow a temporary extension of the debt ceiling. Republican House Speaker, John Boehner has said that the Republican-controlled house will not pass a bill unless there are provisions to cut spending. Barack Obama and Democrat senators have ruled out any such move.
Worries of a knock-on effect on oil demand has widened the spread of Western Canada Select faced to West Texas Intermediate to USD34.50, a 9-month high.