Loonie steadies near eight-week low as oil prices drop
The loonie held near an eight-week low as oil prices fell. Markets await Friday's jobs data and next week's Bank of Canada interest rate decision.
Insights:
Canada's dollar steadied at 1.3895 per United States dollar on Thursday after touching an intraday low of 1.3925. The currency hit its weakest level since April 7 as falling oil prices offset a slight retreat in the greenback. Investors are now awaiting domestic jobs data to gauge the likelihood of a central bank interest rate hold next week.
