Friday, April 20, 2007

Canada Dollar Rises on Retail Sales, Commodities, Heads for Weekly Gain

(Bloomberg) -- Canada's dollar rose to near its five-month high after a report showed retail sales in February unexpectedly advanced.

The currency was headed for a fifth straight week of gains, its longest rally since mid-2004, as a strengthening economy and higher commodity prices also attracted investors. The Bank of Canada meets April 24 to decide on its benchmark interest rate, at 4.25 percent since May 24.


Read more at Bloomberg Currencies News

No comments: