Canada — News Archive

New Lows for Canadian Dollar

The Canadian dollar sank to new multi-year lows against its US counterpart today due to negative economic data from Canada. While analysts expected poor performance from the Canadian economy, it fared even worse than forecasts.

Reasons for Decline of Canadian Dollar to Fresh Lows

The Canadian dollar dropped to the fresh lows against its US peer during the Thursday’s session and also fell against some other majors including the euro. The currency has plenty of reasons for its weakness, both domestic and global.

Week of ECB — Week of Suffering for Euro

The euro plunged against the majority of most-traded currencies this week after the European Central Bank expanded its monetary stimulus. There was another currency that suffered from its central bank’s policy decision — the Canadian dollar, which was even weaker than the euro.

Loonie Remains Down Against Greenback

Loonie continues to fall against the greenback, even though oil is a little bit higher today. The Canadian dollar is doing better against European currencies, though.

Bank of Canada Shocks Market Cutting Main Interest Rate, CAD Sinks

It looks like central banks decided to rock the market continuously. Last week it was the Swiss Nation Bank that shocked traders, today it was the Bank of Canada that made an unexpected move by cutting its benchmark overnight rate. Needless to say, the Canadian dollar suffered as a result of such decision.

Oil Prices Continue Drag on Canadian Dollar

Oil prices continue to pull on the Canadian dollar today, bringing it down against the US dollar to a level not seen since 2009. Loonie is likely to continue to fall further, as long as the oil slide is in effect.

CAD Drops to Lowest Since May 2009 vs. USD

Macroeconomic reports from Canada were universally bad today, driving the Canadian dollar lower against most of major peers. The currency reached the lowest level since May 2009 against the US dollar.

Canadian Dollar Mixed During Early Friday’s Trading

The Canadian dollar was mixed at the early trading on Friday. While the currency attempted to extend its rally versus the Japanese yen, it was trading virtually flat against the euro and the US dollar.

Canadian Dollar Drops as CPI Declines, Still Stronger than Yen

The Canadian dollar fell today as Canada’s consumer prices declined more than was expected. Still, the currency was able to outperform the euro and the Japanese yen.

CAD Ignores Negative Domestic Fundamentals, Unable to Outperform USD

The Canadian dollar soared today with the help of rising price for crude oil. This allowed the currency to ignore negative domestic macroeconomic data though it was unable to outperform the US dollar.

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