The Canadian dollar ended lower for a fourth consecutive session Friday, capping off a losing week for the currency in which mounting investor aversion to risk dampened enthusiasm for higher-yielding currencies such as the Canadian unit. The U.S. dollar was trading at C$1.0704 at 4:08 p.m. EST (2108 GMT), from C$1.0712 at 8:00 a.m. EST (1300 GMT), and from C$1.0633 late Thursday. Although Friday's North American dealings remained fairly light and confined to relatively tight ranges, the Canadian dollar continued a recent downward drift toward the weaker extremes of its recent trading range just past the C$1.0800 figure. Further losses toward C$1.0800 were limited by some Canadian dollar technical support around its intraday low at C$1.0730, but otherwise, Canadian dollar support continued to erode as the global investment climate stayed mired in risk-averse mode. "The weaker currencies in the G-10 bloc this week with risk aversion climbing a bit have been the commodity currencies like Australia, New Zealand, and Canada," said currency strategist Shane Enright of CIBC World Markets in Toronto. "If the market presses on with theme we've had in the last two days of U.S. dollar strength, my guess is it will stop stalling around those mid-C$1.0700 levels."Chief foreign exchange technical analyst George Davis of RBC Capital Markets in Toronto suggested that mounting concerns about an increasingly illiquid year-end trading environment are also contributing to a reluctance to take positions in less widely traded currencies like the Canadian dollar. Davis said that the U.S. dollar's penetration and close beyond key technical resistance in the C$1.0685 area could in coming days promote a move by the U.S. dollar-Canada pair into the mid- to high-C$1.0800s, which would mark the Canadian dollar's weakest levels since early October. Currency trading will likely become increasingly illiquid and subject to exaggerated volatility next week, given Thursday's U.S. market close for Thanksgiving, and also holidays in Japan and other Asian countries throughout the week. These are the exchange rates at 4:08 p.m. EST (2108 GMT), 8:00 a.m. EST (1300 GMT), and late Thursday.
USD/CAD 1.0700 1.0712 1.0633
EUR/CAD 1.5910 1.5864 1.5865
CAD/JPY 83.16 83.08 83.78
The Canadian dollar ended lower for a fourth consecutive session Friday, capping off a losing week for the currency in which mounting investor aversion to risk dampened enthusiasm for higher-yielding currencies such as the Canadian unit. The U.S. dollar was trading at C$1.0704 at 4:08 p.m. EST (2108 GMT), from C$1.0712 at 8:00 a.m. EST (1300 GMT), and from C$1.0633 late Thursday. Although Friday's North American dealings remained fairly light and confined to relatively tight ranges, the Canadian dollar continued a recent downward drift toward the weaker extremes of its recent trading range just past the C$1.0800 figure. Further losses toward C$1.0800 were limited by some Canadian dollar technical support around its intraday low at C$1.0730, but otherwise, Canadian dollar support continued to erode as the global investment climate stayed mired in risk-averse mode. "The weaker currencies in the G-10 bloc this week with risk aversion climbing a bit have been the commodity currencies like Australia, New Zealand, and Canada," said currency strategist Shane Enright of CIBC World Markets in Toronto. "If the market presses on with theme we've had in the last two days of U.S. dollar strength, my guess is it will stop stalling around those mid-C$1.0700 levels."Chief foreign exchange technical analyst George Davis of RBC Capital Markets in Toronto suggested that mounting concerns about an increasingly illiquid year-end trading environment are also contributing to a reluctance to take positions in less widely traded currencies like the Canadian dollar. Davis said that the U.S. dollar's penetration and close beyond key technical resistance in the C$1.0685 area could in coming days promote a move by the U.S. dollar-Canada pair into the mid- to high-C$1.0800s, which would mark the Canadian dollar's weakest levels since early October. Currency trading will likely become increasingly illiquid and subject to exaggerated volatility next week, given Thursday's U.S. market close for Thanksgiving, and also holidays in Japan and other Asian countries throughout the week. These are the exchange rates at 4:08 p.m. EST (2108 GMT), 8:00 a.m. EST (1300 GMT), and late Thursday. 
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