Author: Canada Vancouver Sailing Farm – Maple news Talk
（Picture source Youtube）
According to the “Toronto Sun” report on April 28, the dollar surged to its highest level in 20 years against a basket of major currencies on the day, driven by widespread weakness in major national currencies such as the yen and the euro. The Canadian dollar edged higher against the U.S. dollar, recovering from its lowest level in more than seven weeks.
The Canadian dollar rose 0.1% to 1.2805, or 77.09 cents, after hitting its lowest intraday level of 1.2879 since March 9, becoming the only G-10 currency to gain against the greenback.
Canada is a major producer of commodities such as oil, so the Canadian dollar is usually very sensitive to signals from the stock market about the economic outlook. Global oil prices rose again, with U.S. crude futures closing up 3.3 percent at $105.36 a barrel after learning that Germany was no longer opposed to embargoing Russian oil.
In addition, Canadian data showed that employment in the country increased by 142,900 in February, mainly due to growth in the services sector. Meanwhile, the Canadian government’s 10-year bond was up 1.8 basis points at 2.818%.
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