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Canadian and New Zealand Dollars Skyrocket, Aussie Held Back by Employment Numbers Canadian and New Zealand Dollars Skyrocket, Aussie Held Back by Employment Numbers
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Old 07-09-2008, 07:40 PM
DailyFx's Avatar
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Default Canadian and New Zealand Dollars Skyrocket, Aussie Held Back by Employment Numbers
The biggest story in the currency market today is undoubtedly the Canadian dollar which skyrocketed against all of the majors.



The Canadian dollar quietly gained strength going into the US trading session, but the rally took off after the housing market numbers, which were stronger than the market expected. The New Zealand dollar also gained ground ahead of their business PMI numbers, which will be released this evening. The Australian dollar on the other hand trailed behind as the sharp drop in consumer confidence (to 16 year lows) and the prospect of weaker employment numbers weighed on the currency.
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