The Canadian dollar weakens about the concerns of the recession

Canbera (DPA -Afx) – The Canadian dollar decreased against its most important counterparts in the New York session on Monday, since the growing economic uncertainty and the concerns of the rate decreased the feeling.

Merchants are considering the comments of the president of the United States, Donald Trump, that the US economy faced “a period of transition.”

In a Fox News interview that was broadcast on Sunday, Trump refused to rule out a recession this year, saying that “there is a transition period” that will eventually be worthwhile to the economy.

However, Trump’s Secretary of Commerce, Howard Lutnick, was more definitive and said ‘absolutely not’ when asked if Americans should prepare for a recession.

The Loonie fell to more than a minimum of 7 months of 101.68 against Yen, more than 4 years to a minimum of 1,5666 against the euro and a minimum of 6 days of 1,4469 against the Back Green. The currency can challenge the support of around 97.00 against YEN, 1.58 against the euro and 1,465 against the Greenback.

In contrast, the Loonie recovered at 0.9066 against the Australian, from a minimum of 3 months of 0.9125. If the currency continues its upward trend, 0.89 is possibly seen as its next level of resistance.

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