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Loonie stumbles as Chinese data hits commodities

Blog by Brad Herman | April 16th, 2013

The Canadian dollar was sharply weaker against the greenback on Monday, dragged lower by commodity prices that were hit by disappointing data out of China.

Gold, silver, copper and oil prices were all slammed after data showed China's recovery unexpectedly stumbled in the first three months of 2013, with an annual growth rate of 7.7 percent versus economists' expectations of eight percent growth.