In early Asian deals on Friday, the Canadian dollar dropped to multi-day lows against the currencies of US and Japan. Meanwhile, the loonie pared its recent gains against the euro, but recovered from a 4-day low against the aussie.
The Canadian manufacturing sales report for February has been slated for release at 8:30 am ET Friday.
The Canadian dollar slipped against the US currency in early Asian deals on Friday. As of now, the loonie is trading at a 3-day low of 1.0058 against the greenback with 1.011 seen as the next downside target level. At yesterday’s close, the greenback-loonie pair was quoted at 1.0021.
The U.S. housing starts and building permits for March and the preliminary report of the Reuters/University of Michigan’s consumer sentiment survey for April have been slated for release in the New York session.
During early Asian deals on Friday, the Canadian dollar dropped against the Japanese yen. The loonie-yen pair is currently trading at an 8-day low of 92.20, compared to 92.91 hit late New York Thursday. The next downside target level for the Canadian currency is seen at 91.0.
The Canadian dollar that strengthened against the euro in early Friday Asian deals lost ground after hitting a high of 1.3585 at 8:20 pm ET. Currently, the loonie is worth 1.3620 per euro and if the Canadian dollar slides further, it may likely target the 1.376 level. The euro-loonie pair closed yesterday’s trading at 1.3607.
Italian final CPI for March and current account for February, Euro-zone trade balance for February and CPI for March are expected to influence trading in the upcoming European session.
The Canadian dollar that fell to a 4-day low of 0.9374 against the Aussie at 5:10 pm ET Thursday gained ground thereafter. At present, the loonie is worth 0.9345 against the aussie, compared to yesterday’s New York session close of 0.9369. On the upside, 0.927 is seen as the next target level for the Canadian dollar.
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