Canadian dollar whipsawed as market mood swings 'from greedy to fearful' Add to ... Michael Babad. The Globe and Mail.

Video: How much higher can U.S. stocks go? The loonie, as the dollar coin is known in Canada, has lost more than 4 per cent this year, which puts the currency �exactly in the middle of the pack,� said senior economist Benjamin Reitzes of BMO Nesbitt Burns.

�Ordinarily, we might expect the Canadian dollar to benefit from an accelerating U.S. economy. If the U.S. economy is doing better, what about growth-related currencies in the G10?

Toronto-Dominion Bank says the loonie, now at near par, will tumble to 90 cents by early next year, before recovering to 93 cents by the end of 2014.

The Canadian dollar is higher early Thursday, retracing its decline to a fresh yearly low it touched during overnight trading after a gauge of China's economy showed contraction for the first time in seven months.

The Canadian dollar declined to a two-month low versus its U.S. counterpart after the annual inflation rate fell in April to its slowest in more than three years, bolstering the case for lower interest rates.

TORONTO - The Canadian dollar headed lower Friday after Statistics Canada reported that consumer prices rose last month at the slowest rate it's seen in more than three years.

The Canadian dollar gained from a one-year low against its U.S. counterpart amid speculation the Federal Reserve may not taper its monetary stimulus, known as quantitative easing, as soon as some investors anticipated.

In trading on Wednesday, shares of the Canadian Dollar Trust ETF (AMEX: FXC) entered into oversold territory, changing hands as low as $95.71 per share.

A Canadian dollar, left, and a Euro are seen next to a series of U.S. dollars in this January 26, 2011 photo in Montreal. THE CANADIAN PRESS/Paul Chiasson.