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The Canadian dollar was marginally changed versus the US dollar Monday as fighting flamed in Ukraine and turmoil continued in Gaza, caging a lack of risk appetite in global markets.
In Ukraine, fighting flared up in the eastern city of Donetsk while a train bringing the remains of the victims of downed Malaysian plane left the site.
Also, the death toll from the two-week upheaval between Israeli forces and Palestinian militants was at around 500 while the United States took a direct role in its endeavor to secure a truce.
“While markets as a whole have fluctuated with changes in risk appetite, a rise in oil prices helped put a floor under the Canadian dollar,” said Mark Chandler, Head of Canadian fixed Income and Currency Strategist at Royal Bank of Canada.
The currency closed the North American session at C$1.0730 to the dollar or 93.20 US cents, little firmer than Friday’s C$1.0736 or 93.14 US cents.
In a relatively muted week, the market will pay attention to the United States’ inflation data due Tuesday and the Canadian retail sales for May due Wednesday.
