Canadian dollar falls as fading hope of quick end to war boosts greenback

The Canadian dollar weakened against the U.S. dollar on Thursday after optimism that the Middle East war might end soon faded and Canadian data showed an unexpected widening in the trade deficit. The combination of deteriorating geopolitical sentiment and weaker external balances pressured the currency and could weigh on near-term CAD performance.

Analysis

The Canadian dollar weakened against the U.S. dollar on Thursday after optimism that the Middle East war might end soon faded and Canadian data showed an unexpected widening in the trade deficit. The combination of deteriorating geopolitical sentiment and weaker external balances pressured the currency and could weigh on near-term CAD performance.