Canada — News Archive

Loonie Drops Against Greenback as Oil Prices Continue to Fall

Loonie is once again heading lower against the greenback, thanks in large part to oil prices. Even though the Canadian dollar is struggling against its US counterpart, though, it is gaining ground against European currencies. Concerns about what’s next in Europe, especially with sluggish Chinese data and policy statements coming tomorrow, are weighing on currencies across the pond.

Crude Oil Prices and Passiveness of Central Bank Hurt CAD

The Canadian dollar bounced against its US peer today following yesterday’s losses but extended decline against the euro and turned down versus the Japanese yen. Falling prices for crude oil and speculations that the Bank of Canada will not hike interest rates anytime soon were among the reasons for the currency’s weakness.

CAD Drops vs. USD as Economy Contracts

The Canadian dollar ended Friday with losses against its US counterpart as Canada’s economy unexpectedly contracted in August. At the same time, the loonie managed to end the session flat versus the euro and to jump against the Japanese yen.

Canadian Dollar Trades Mixed Against Major Counterparts

Canadian dollar is trading mixed today, thanks to the latest comments from central bankers. Information from the Federal Reserve, as well as testimony from the Bank of Canada’s Stephen Poloz, are contributing to the loonie’s losses to the US dollar.

Loonie Gains a Bit Against Major Counterparts

Canadian dollar is heading a little bit higher today, gaining ground after weakening yesterday. A slight uptick in oil prices, along with better news in European and China, are helping the loonie a little bit. However, there are still challenges ahead for the Canadian dollar.

CAD Edges Higher After Bank of Canada Meeting

The Canadian dollar advanced today after the Bank of Canada left its monetary policy unchanged. The currency was soft previously as retail sales data was rather negative.

CAD Turns Down, Positive Data Doesn’t Help

The Canadian dollar started the week with losses against some of its major peers, including the euro and the Japanese yen, and continued to fall today. Monday’s economic data was positive, but it did not help the currency.

CAD Falls Over Week, Trims Losses By Weekend

The Canadian dollar fell over the week as prices for crude oil were slipping. The currency bounced by the end of the week, trimming its weekly losses, due to a positive inflation report and recovery of prices for crude.

Oil Weighs Heavily on Canadian Dollar

Canadian dollar continues to struggle, thanks in large part to falling oil prices and stock prices. The loonie reached a five year low against the greenback earlier, and it appears that the struggle is likely to continue.

Loonie Gains Against European Counterparts

Better employment data released toward the end of last week is still helping the Canadian dollar in Forex trading today. Indeed, there are hopes that Canadian rates will start rising again. This hope is allowing the loonie to log gains against European currencies, even as it continues to struggle against the greenback.

Archives

SUBSCRIBE

Follow Top Forex News on Facebook FB