Loonie falls after mixed data

Economies.com
2020-02-28 17:19PM UTC

The Canadian dollar slipped against most major currencies on Friday, after the release of mixed economic data, while investors focused on the latest developments if the coronavirus health crisis.

 

The World Health Organization raised its assessment of the coronavirus to "very high," as outbreaks continued to appear rapidly.

 

The organization stated that deadly virus may spread to every country in the world if it was not contained and dealt with, and pointed that the number of infected beyond China surpassed 4500 and its death toll rose to 67 victims.

 

While China revealed that the number of infected rose to more than 82,000 cases, and the virus claimed the lives of about 2,850 victims.

 

Data showed today that Canadian GDP grew 0.3% last month beating forecasts of 0.1%, while the raw material price index fell 2.2%, lower than forecasts of a rise by 2.1%.

 

As of 17:18 GMT, CAD/USD fell 0.1% to 0.7458, after the pair hit an intraday high of 0.7479 and a low of 0.7423.

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