Loonie Starts Week Bearish on Copper, Stocks

The Canadian currency didn’t manage to continue its last week rally as stocks and commodities markets had a less optimistic performance this Monday, setting the loonie down versus its U.S. counterpart and the Japanese yen.

As stocks operated near neutrality and metallic commodities, like the copper, went down today, The Canadian currency retreated from its highest level in February versus lower-yielding currencies, as the market sentiment in Europe, once again affected by the region’s budget crisis, is declining appetite for riskier assets in North American trading markets in the beginning of this week.

USD/CAD traded at 1.0424 as of 16:22 GMT from an opening rate of 1.0384 yesterday. CAD/JPY traded at 87.42 from 88.05.

If you want to comment on the Canadian dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.

Yen Declines on EU-Greece Rescue Plan

The yen was the most affected currency by a new wave of optimism started by EU officials statements suggesting that the bloc will help Greece financially to solve its public debt issues, losing specially versus higher-yielding currencies and the euro.

The Japanese currency started this Wednesday continuing its losing trend initiated yesterday by renewed optimism that Greece fiscal crisis will end sooner than expected as the European Union signaled its intentions to inject money in the country’s accounts, as long as it follows measures necessary to tighten its massive public deficit.

AUD/JPY traded at 78.73 as of 02:23 AM from a previous intraday rate of 77.30.

If you want to comment on the Euro’s recent action or have any questions regarding this currency, please, feel free to reply below.