The Canadian dollar weakened against the U.S. dollar on Monday as volatile crude prices
retreated and as investors positioned for month-end trading and ahead of a busy week for economic data.
Oil prices slid after staging their biggest two-day rally in six years last week, on renewed worries over excess supply and China’s slowing economy.
After a quiet period on the economic data front, investors are turning their attentions to this week’s Canadian data including second quarter growth data on Tuesday, trade balance figures for July on Thursday, and job numbers for August from both sides of the border on Friday.
