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FX Update, Friday March 13

Posted March 17, 2015

Courtesy of Johny Nusbaum, Aloris Mercantile

The Canadian Dollar remains near 5 year lows against the USD after weak Canadian unemployment figures Friday morning. The Canadian economy lost 1k jobs for the month of February, raising the unemployment to 6.8%. This week has been a very volatile week for the currency markets and the beginning of next week should also remain quite volatile ahead of Wednesday afternoon's U.S. Federal Open Market Committee meeting. While an interest rate hike at this meeting is seen as unlikely, there will be heavy focus on the tone of their statement to get an idea of how soon that rate increase will come.