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Excerpt from:  CFD Trading in International Financial Markets
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November 20, 2008

Currency CFDs: Canadian Dollar Drops

Oil prices drag loonie down in forex trading
Contracts for differences on the FX market should consider that the Canadian dollar is suffering quite a bit right now. Thanks to a global recession, the loonie, a commodity currency, is dropping in forex trading.

One of the main factors in the fall of the Canadian dollar, however, is the decline in oil prices. Oil is one of Canada's main exports (especially to the U.S.), and recently high oil prices have supported the loonie in forex trading.

Now, though, with oil declining, the Canadian dollar is falling as well.
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PermalinkMore on the Loonie in Forex Trading
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PermalinkContracts on the Loonie in Forex Trading
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