Canada — News Archive

Loonie Gets Boost from Positive Data

The Canadian dollar is getting a boost today, heading a little higher against some of its major counterparts, thanks to positive data recently released. Even though oil is lower today, the loonie is gaining some ground.

Canadian Employment Weighs on Loonie

Canadian employment news is weighing on the loonie today, prompting it to trade mixed as it loses ground to the US dollar. Falling oil prices aren’t helping the Canadian dollar, either.

Loonie Gains Against European Counterparts

Canadian dollar is heading a little higher this week, gaining ground against European counterparts, thanks in large part to the latest trade surplus data. With the Canadian dollar looking for gains related to its economic recovery, and with Europe suffering from economic difficulties and geopolitical uncertainty, it’s no surprise the loonie is gaining.

Canadian Dollar Mostly Unchanged

Canadian dollar is mostly unchanged today, making no major moves higher or lower against its major counterparts. After last month, it appears that there is some consolidation in the currency market as Forex traders consider their options and think about the most recent data.

USD/CAD Retreats After Touching Highest in Month

The Canadian dollar pared losses against its US peer after a report showed that Canada’s economic growth in May was faster than expected, though USD/CAD reached the highest level in more than a month earlier. The loonie gained versus the euro and was flat against the Japanese yen.

Data from United States Undermines Canadian Dollar

The Canadian dollar dropped against its US counterpart today, reaching a lowest level in more than a month, pressured down by signs of economic growth in the United States. The currency also retreated against the euro but managed to log gains versus the Japanese yen.

Canadian Dollar Looks to Hold to Yesterday’s Gains

Canadian dollar is hoping to hold on to some of yesterday’s gains, and with thin trading and concerns about the geopolitical situation, that’s a possibility.

Attempted Euro Rally Fizzles

Euro attempted a rally against the US dollar earlier, taking advantage of the frustration many Forex traders have with US yields right now. However, that rally has fizzled out as the focus shifts to safe haven flows. Euro is lower against its low-beta counterparts, even as it gains against currencies like the pound and the loonie.

Canadian Dollar Ends Week on Positive Note

The Canadian dollar ended the trading week on a positive note with help of supportive macroeconomic releases from Canada, which showed that the economy performs rather well and may weather monetary tightening from the nation’s central bank.

Will the Loonie Erode Further After Poloz?

Loonie has been sinking, in an overall trend kind of way, since Stephen Poloz took over at the Bank of Canada. With another policy statement on the way today, there are expectations that the Canadian dollar could go lower, particularly against the US dollar.

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