Canadian dollar extends losses ahead of retail sales and consumer price data

The Canadian dollar fell during the European market on Friday against the US counterpart, extending losses for the fourth straight day, its lowest level in two weeks, in light of the US currency rise against most major currencies, and the Canadian economy later in the day is waiting important data on retail sales and consumer prices and investors awaited those data to reassess the Canadian interest rate expectations during the current year.

By the time 11:40 GMT the US dollar versus the Canadian dollar trading at 1.3110 from an opening price of 1.3086 after recording the highest price of 1.3138 the highest since July 11th and the lowest price of 1.3072.

The Canadian dollar ended yesterday's trading down 0.3 percent against the US dollar in the third daily loss in a row, as a result of falling oil prices in global markets with renewed concerns about the global supply glut.

Investors later in the day awaits many important from Canada data to measure the extent of economic recovery, in order to re-evaluate the Canadian monetary policy expectations and the future of interest rates.

Retail sales expected to issue a rise of 0.0 percent in May from a rise of 0.9 percent in April, and without food and fuel is expected to rise by 0.3 percent from a rise of 1.3 percent the previous month.

The consumer price index is expected to rise _ by 0.2 percent through June from a rise of 0.4 in May, and by excluding food and fuel prices are expected to rise by 0.0 percent from a rise of 0.3 percent the previous reading.

The pound fell to $ 1.3084, erasing the gains achieved over the last two days, after the negative data released today in London, which showed a contraction of the main sectors "manufacturing and services" soon after the secession of the country of the European Union, which reinforced expectations of the Bank of England to cut interest rates soon to support the economy.