The Canadian dollar pared all its early day versus its U.S. peer, after the European Central Bank President Mario Draghi’ remarks disappointed market participants. They were hoping to see more concrete measures aimed at stimulating the Eurozone’s economy. The Loonie slipped after Mr. Draghi indicated that the ECB will join efforts with local governments to buy government securities, but at the same time the president announced that details will be revealed in the days to come. He once again reiterated his willingness to preserve the integrity of the Eurozone. The Canadian dollar advanced earlier on, approaching parity with its U.S. counterpart, after the ECB decided to keep its benchmark interest rate at its current level of 0.75%. The Loonie was little changed at C$1.0057 per U.S. dollar after the currency traded with a 0.5% gain to C$1.0002, its highest rate since May 15th. Currently, one Canadian dollar buys for 99.43 U.S. cents.
