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Posted March 9th, 2015 by Charles Purdy

US dollar dominant

The Canadian dollar had a weak finish to the week as it dropped to levels of almost two-week lows against its US counterpart. This was largely due to Statistics Canada reporting that the trade deficit widened to C$2.45 billion in January from C$1.22 in December. Experts had expected trade balance to swing into a surplus of C$0.3 billion in January.

Elsewhere, Friday was a slim day for data realises. The Australian dollar moved up slightly against the US dollar in the anticipation of non-farm payroll data out of the US. However it then lost this ground following the realease, as the outcome was much better than initially expected.

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