Commodity Prices Holding Back Canadian Dollar

The Canadian dollar has enjoyed a 4 percent gain against the greenback over the last couple weeks as U.S. financial conditions continue to falter.

Even so, the resultant decline in commodity prices has kept the loonie from making any more gains over the last couple days as it has remained flat against the U.S. dollar.

With politicians battling over the proposed bailout, pressure on the U.S. dollar will remain until it's resolved and the final package revealed.

With over half of all Canadian exports being commodities, things will remain flat until the decision is made concerning the possible bailout and the specifics of it.

The Canadian dollar seems to have settled at around C$1.03 to the U.S. dollar during this period of time.