New US Jobless Claims Climb to 627,000
The US Labor Department said today that the number of new jobless claims for last week was higher than expected at 627,000 new applicants. Total unemployment also rose to more than 6.7 million. More
US Stock Futures Lower on Unexpected Jobless Claims Increase
US Economy Shrinks 5.5%
Weak Stocks, Stop-Losses Pull Down Canadian Dollar
The “loonie” as the Canadian dollar is known, lost just over half a cent to the US dollar in early morning trading in New York dropping to 86.16 US cents. Weaker commodity prices and – according to Firas Askari, head of foreign exchange trading at BMO Capital Markets – the triggering of stop-loss orders explain the drop.
“I think the Canada (dollar) just has some weak Canadian dollar longs that are getting stopped out,” Askari said in a client briefing note. More
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.