Loonie at 74.24 U.S. cents
weakened against its U.S. counterpart on Wednesday, with the currency pulling back from an earlier six-month high as the boost to investor sentiment from China’s stimulus package lost some momentum.
“We’re pulling back today because Chinese stocks cooled down a bit overnight and because EUR-USD collapsed this morning following the better-than-expected U.S. new home sales numbers,” said Erik Bregar, director, FX & precious metals risk management at Silver Gold Bull.Stocks globally pulled back from the record high they posted on Tuesday when China’s central bank unveiled its biggest stimulus since the pandemic.
The U.S. dollar rallied against a basket of major currencies, including the euro, as data showed sales of new U.S. single-family homes fell less than expected in August.
Canadian Dollar Dollar Exchange Value Loonie Nopop
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