Canadian dollar is on the rise today, gaining against the US dollar as better economic data is expected, and as the situation in Cyrpus eases some.
View detail |
Here's my take on why unemployment will continue to be a problems for the united states in the future.
Right now, even though the US dollar is a bit lower against the euro, there is still evidence of dollar strength.
Euro plunged in value to start the week, thanks in large part to the latest banking crisis, located in Cyprus.
Even with a level of uncertainty, the euro is gaining ground today. The 17-nation currency is up against its major counterparts, even as a number of issues remain unresolved.
Euro has recovered some of its earlier losses against the US dollar, but the 17-nation currency remains vulnerable to the UK pound and the Japanese yen.
Euro is headed lower again, thanks to more economic data that indicates the eurozone is likely to remain in an economic contraction.