Bank of Canada — News Archive

Pound Gains as Mark Carney Appointed as Next Head of BoE

The Great Britain pound pared yesterday’s losses versus the US dollar and the Japanese yen today after the announcement that Mark Carney, the current Bank of Canada’s Governor, will be the next head of Britain’s central bank.

Canadian Dollar Falls After Carney Appointed as Head of BoE

The Canadian dollar weakened yesterday as Bank of Canada Governor Mark Carney was appointed as a new head of the Bank of England, creating uncertainty about leadership in the Canadian central bank. The currency was firmer today against the US dollar and the euro, but continued to fall versus the Japanese yen.

CAD Remains Flat After Data Shows GDP Decline

The Canadian dollar rose yesterday amid returning risk appetite, but trimmed its gains as Canada’s economy unexpectedly shrank in August. Today, the currency remained almost flat, waiting for more news to give it direction.

CAD Trades Below Parity with USD

The Canadian dollar traded below parity with its US counterpart for the first time since August as the general negative sentiment on the Forex market added to fundamental concerns in Canada.

Hawkish Stance of BoC Does Not Prevent Weekly Losses of Loonie

The Canadian dollar posted weekly losses amid tension and uncertainty on the Forex market even as Canada’s central bank maintained interest rates and hinted that higher rates may be possible in the future. The Canadian currency was a little higher against the euro as the 17-nation currency had its own share of problems.

Loonie Suffers as Europe Hurts Market Sentiment

The Canadian dollar fell today as the Forex market was not pleased by the news from Europe and entered a risk-off mode. The Canadian currency remained weak against safer currencies and even declined versus the euro.

Loonie Gains on Expectations of Higher Interest Rates

The Canadian dollar was higher today as the central bank reiterated its suggestion that interest rates should be higher in the future. That suggestion opposed the comments of bank’s Governor Mark Carney, who was less hawkish.

Bank of Canada Remains Hawkish, Loonie Goes Higher

The Canadian dollar jumped today against the euro after the Bank of Canada maintained its key interest rate and issued a hawkish statement. The loonie was down against the yen as the Japanese currency was surprisingly strong today, following yesterday’s losses. The Canadian currency trimmed its decline versus the US dollar, but remained somewhat below the opening level.

Loonie Struggles against other Majors

Canadian dollar is struggling a bit today, heading lower against other major currencies. Loonie is struggling a bit on uncertainty about what the Bank of Canada will decide, as well as being affected by slipping oil prices.

Canadian Dollar Snaps Three-Day Drop

The Canadian dollar jumped yesterday, snapping the three-day decline against its US peer, and maintained its gains today as risk appetite on the Forex markets resulted in gains for currencies tied to growth.

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