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Canadian and Australian Dollars Continue to Lose Ground

Thursday, 08 November 2007 20:59:19 GMT | Kathy Lien, Chief Strategist

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Friday, 04 July 2008 14:12:40 GMT Australian, New Zealand and Canadian Dollars Edge Higher
Wednesday, 12 December 2007 22:41:17 GMT Australian Dollar Sees Key Data, Rallies Sharply on Fed Announcement
Thursday, 29 November 2007 21:48:10 GMT Weaker Economic Data Drives Canadian, Australian and New Zealand Dollars Lower
Wednesday, 28 November 2007 20:54:29 GMT Australian, New Zealand and Canadian dollars Unfazed by Weaker Commodity Prices
Tuesday, 27 November 2007 21:35:54 GMT USDCAD Hits Parity, Australian and New Zealand Dollars Strengthen
Monday, 26 November 2007 21:47:07 GMT Risk Aversion Sends Australian, New Zealand and Canadian Dollars Lower
Friday, 23 November 2007 18:57:10 GMT Stronger Gold and Oil Prices Take Australian, New Zealand and Canadian Dollars Higher
Wednesday, 21 November 2007 20:38:03 GMT Australian, New Zealand and Canadian Dollars Test Bottom of Week Long Range
Tuesday, 20 November 2007 21:24:25 GMT Higher Commodity Prices Drive Australian, New Zealand and Canadian Dollars Higher
Monday, 19 November 2007 22:04:57 GMT Canadian, Australian, New Zealand Dollars All Face Sharp Losses
Monday, 22 October 2007 21:54:11 GMT Commodity Dollar Could Be Susceptible To Declines This Week
Thursday, 15 November 2007 18:27:48 GMT Australian, New Zealand and Canadian Dollars Hit by Weaker Commodity Prices
Wednesday, 14 November 2007 21:14:55 GMT Australian and New Zealand Dollars Strengthen but Canadian Dollar Continues to Weaken
Tuesday, 13 November 2007 21:29:45 GMT 2 Percent Moves in Australian and New Zealand Dollars
Monday, 12 November 2007 21:38:56 GMT Canadian Dollar Sees Biggest Rise One Day Slide in 36 Years
Friday, 09 November 2007 21:49:27 GMT USD/CAD: Time for a Bottom
Wednesday, 07 November 2007 20:46:25 GMT Commodity Currencies See Sharp Intraday Reversal
Tuesday, 06 November 2007 21:41:33 GMT Australia Raises Interest Rates, Another Reason to Hit Parity
Monday, 05 November 2007 22:07:50 GMT USD/CAD Sinks to New Record Low
Friday, 02 November 2007 21:08:35 GMT Canadian Dollar Hits Record High Following Strong Employment Numbers

With commodity prices basically unchanged, fundamentals have finally taken hold of the commodity currencies. The Canadian and Australian dollars are both softer on the heels of weaker than expected Australian employment numbers and Canadian housing market data.

Both housing starts and house prices deteriorated. The New Zealand dollar was the only commodity currency to rally as the unemployment rate fell to another record low. Tomorrow there will be no Australian or New Zealand data released but Canada will be reporting their trade balance for the month of September. The recent strength of the CAD is expected to drive the surplus lower.

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