The Canadian dollar has drooped down against 13 of its 16 most-traded counterparts and it has gained only against the currencies of New Zealand, Australia and South Africa. The U.S. dollar has shown a rise against all but two major currencies as investors’ appetite for risk waned.

Canadian currency depreciates

Yesterday in Toronto a depreciation of 1.8 percent to C$1.0706 per U.S. dollar has been recorded for the Canadian currency, from C$1.0516 on Nov. 13. This week it has fell down four straight days, which is the longest losing streak since Sept. 2, and it touched C$1.0733, which is the weakest level since Nov. 9. on Oct. 30 the currency last posted a five-day loss. The buying power of one Canadian dollar is 93.41 U.S. cents.

This year the Canadian dollar, which is nicknamed as the loonie for the image of the aquatic bird on the C$1 coin, is up 14%.

The Dollar Index

The Dollar Index, which is being used by the InterContinental Exchange Inc. for tracking the greenback against the currencies of six major U.S. trading partners including Canada, touched the lowest since August 2008 on Nov. 16. With a 0.3% gain it rebounded to end the week after Federal Reserve Chairman Ben S. Bernanke said the central bank’s policy will help support a “strong” dollar.

According to the median forecast of 37 economists and analysts surveyed by Bloomberg News the loonie will strengthen to C$1.04 by year-end.

MSCI World Indexand Standard & Poor’s 500 Index

Global stocks has fell down for the first week in three. The MSCI World Index, which is considered to be a gauge of equities in 23 developed nations, dropped down 1.1% , and the Standard & Poor’s 500 Index fell 0.2%.

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