Canadian dollar falls after weak economic data

The Canadian dollar fell on the day amid growing concerns about the global economy as well as weak economic data in Canada.

Government data showed that consumer price index (CPI) rose by 0.7% last month while the index fell in its core value - excluding energy and food products- by 0.1%, contrary to expectations.

In addition, Canada's retail sales index fell by 0.3% in February, while analysts expected the index to rise by 0.4%.

Not only that, but economic data in the eurozone showed a decline in industrial activity in the EU's countries, in the largest monthly pace in six years and increased concern about the global economy.

In terms of trading, by 14:45 GMT, the Canadian dollar fell against the US currency by 0.4% to 0.7454, and with a high of the day at 0.7494 and the lowest price at 0.7446.