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US Dollar Ends Week Mixed, Canadian Dollar Strongest

April 7, 2018 at 15:52 by Vladimir Vyun

Canadian 20-dollar billsThe US dollar ended the week mixed, rising against such majors as the euro and the Japanese yen, but falling versus such currencies as the Great Britain pound and the Canadian dollar. While nonfarm payrolls was the main economic release during the past week, traders paid more attention to escalation of trade war rhetoric between the United States and China.

China and the USA were exchanging back and forth with more and more tariffs announced. That weighed on the greenback. Nonfarm payrolls were not helping either, with lackluster jobs growth and the unexpected increase of the unemployment rate.

The Canadian dollar faced its share of problems, including falling prices for crude oil and the drop on Friday despite positive employment data. Yet that did not prevent the loonie from ending the week as the strongest currency due to optimism about the NAFTA negotiations.

If you have any questions, comments, or opinions regarding the US Dollar, feel free to post them using the commentary form below.

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