Weaker economic data leads Canadian dollar lower

By MoneyWay | Oct 19, 2018

The Canadian dollar is a bit weaker to the USD due weaker than expected CPI numbers, this is turn removes pressure from the Bank of Canada to hike interest rates. However, the Bank of Canada has its rate announcement next week and there is still a chance that it will hike rates at least a quarter of a percent.

China’s economic woes continue, stock-market turbulence and a sharper-than-expected economic slowdown are ratcheting up pressure on China’s leaders, just as Donald Trump does the same. The Shanghai Composite Index dropped to a four-year low and Trump took new measures to escalate his trade war with Beijing, third-quarter growth figures showed China’s economy expanding at the weakest pace since the depths of the global financial crisis in 2009. Faced with a growing panic in the stock market, the chiefs of China’s market regulator, central bank and financial watchdog all called for investor calm.

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