The Bank of Canada is expected to cut interest rates on Wednesday and not many are favoring the move. Many are worried that the rate cut will damage the already weakened Canadian dollar, among other worries.
Canadian Finance Minister has clearly stated that he strongly supports the central bank's recommendation of featuring Canada's iconic woman or women on paper currency. The petition for recognition of women, led by by hhistorian Merna Foster since 2013, seems to be slowly moving towards a positive decision.
The Canadian dollar remains steady against the US dollar, but may change once the Federal Reserve Chairman makes his remarks on quantitative easing.
A decline in oil prices weakend the Canadian dollar against most of its trading partners, including its number one customer, the United States.
Canadian dollar falls against US greenback due to current trends.