C$ hits 22-month low as equity markets slide
2022. 9. 17. 19:53ㆍ■ 국제/CANADA
C$ hits 22-month low as equity markets slide (msn.com)
MARKETS TODAY
TORONTO (Reuters) - The Canadian dollar weakened to its lowest level in nearly two years against its U.S. counterpart on Friday as the prospect of further central bank tightening weighed on investor sentiment and domestic data showed wholesale trade falling in July.
FILE PHOTO: A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto© Reuters/Mark Blinch
Equity markets globally extended this week's declines as investors braced for a U.S. interest rate hike next week amid more warning signs pointing to a global economic slowdown.
Canada's economy performed better than some of its G7 peers in the first half of 2022 but has showed signs of losing momentum.
Canadian wholesale trade decreased by 0.6% in July from June on the lower sales in personal and household goods, as well as the building material and supplies subsector, Statistics Canada said.
Related video: We're a bit more bullish, but not aggressively so, on emerging market currencies: Analyst
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