Canada — News Archive

Could Copper Hold the Key to Loonie Performance?

Canadian dollar is higher today, and so are copper prices. While we often think of the loonie as a petrocurrency, the truth might be that it is really more closely related to copper — and that might be giving the Canadian dollar a boost today.

Canadian Dollar Sinks Despite News Being Not That Bad

The Canadian dollar sank today even though the Forex traders’ sentiment towards the currency improved somewhat and not all economic reports from Canada were bad. The currency extended its drop for a second trading session.

Positive US Employment Data Leads to Massive Gains for CAD

Very good employment data from the United States fueled the strength of the US currency but it also led to massive gains of the Canadian dollar yesterday, which the loonie managed to maintain today.

CAD Drops on GDP Report, Pares Losses

Canada’s gross domestic product grew in April less than was expected by analysts, triggering a drop of the Canadian dollar. The currency is currently recovering, trimming losses versus the Japanese yen and trading close to the opening level against its US peer.

Loonie Looks for Gains Against Greenback

Speculators taking short positions on the loonie against the greenback are starting to capitulate a little bit. With inflation picking up in Canada, there is interest in what policymakers will do next, and some think that action will include some sort of interest rate hike, or some other mechanism to slow inflation.

CAD Shoots to Upside on Back of Positive Data

The Canadian dollar surged today with a help of positive macroeconomic data, including the Consumer Price Index that was higher than forecasts and above the central bank’s target. The currency jumped to the highest level since January.

Loonie Remains Mostly Lower

Speculators are keeping the loonie mostly lower again today. Some analysts think that these speculators are being stubborn, and that the Canadian dollar has more upside potential than is being shown. For now, though, the loonie continues to struggle.

Euro Mixed as Bulls and Bears Face Off

Euro is mixed in Forex trading today, and bulls and bears are facing off, looking at the 1.35 level against the US dollar as an important dividing line. It’s turning into an interesting over/under debate, as well as a debate between those who see the recent ECB decision as an injection of life into the eurozone, and those who think weakness will continue.

Loonie Experiences Mixed Trading Day

The Canadian dollar had a mixed trading session today as fundamentals were confusing and did not give a clear direction for the currency to go. Over the longer term, the loonie still maintains its bullish bias against the US dollar and the euro and remains flat versus the Japanese yen.

Housing Stats Help Loonie Against European Currencies

Better housing stats are helping the Canadian dollar against its European counterparts. However, the US dollar is still on something of a tear, and the loonie remains down against its neighbor to the south.

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