Canadian Dollar weakens versus greenback on economy slowdown

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Source: Bloomberg
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Canadian currency depreciated to one-month record low against its US peer on Monday as data showed nation's GDP unexpectedly contracted in February, reducing room for the central bank to raise key rate. Loonie weakened 0.7% to CAD 0.9872 in Toronto session. Currently USD/CAD is trading at CAD 0.9884. 
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Tue, 01 May 2012 08:18:48 GMT

Canada's GDP unexpectedly fell in February

Canadian economy unexpectedly contracted in February, driven by several temporary closures in industry sector. Real GDP dropped 0.2% in February, Statistics Canada said on Monday. The main contributor to decline were weaker extraction of oil, gas and other raw materials. Analysts predicted a growth of 0.2%. 

Tue, 01 May 2012 07:49:46 GMT

South Korean inflation reaches almost 2-year record low

South Korean inflation slowed and exports dropped in April adding pressure on the Bank of Korea to keep benchmark interest rate unchanged. Country's exports tumbled 4.7% on annual basis following a 1.4% drop in March while inflation slowed to annual 2.5%. Analysts predicted the CPI to climb to 2.8% after a 2.6% gain in March. 

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