Canada — News Archive

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.

Loonie’s Struggles Continue as Oil Continues to Fall

Canadian dollar continues to struggle in Forex trading, thanks in large part to falling oil prices. There doesn’t seem to be a bottom to the oil collapse, and the loonie is most lower against its major counterparts as a result of the oil weakness.

CAD Touches Lowest Since 2009 vs. USD, Gains vs. EUR & JPY

The Canadian employment report was not nearly as good as the US one. As a result, the Canadian dollar dropped against the US dollar, touching the lowest level since July 2009. Surprisingly enough, the loonie managed to log gains against such major currencies as the euro and the Japanese yen.

Canadian Dollar Turns Down

The Canadian dollar rallied on Wednesday after the Bank of Canada kept its monetary policy unchanged. The currency fell on Thursday and continued to move down during the early Friday’s session, though it did not erase its Wednesday’s gains completely.

Loonie Recovers to Some Degree

The Canadian dollar has been struggling recently, but seems to be enjoying something of a breather right now. The loonie is a little bit higher against the US dollar, thanks in part to slightly higher oil prices today, as well as some profit taking.

Loonie Finds a Little Support in Forex Trading

Canadian dollar is getting a little help today in currency trading on the FX market, thanks to better economic data. The embattled loonie is making some progress against some of its major counterparts, thanks to better GDP data and expectations of a good manufacturing report. However, these gains aren’t expected to last as oil prices continue to drop.

Canadian Dollar Remains Under Pressure Despite Rising GDP

The Canadian dollar ended today’s session with losses even though Canada’s economy demonstrated growth in September following the previous month’s decline. It looks like the currency remains under pressure from yesterday’s OPEC announcement.

Canadian Dollar Sinks After OPEC Meeting

Today, trading is lighter than usual due to a holiday in the United States. But this does not mean that the Forex market was quiet. Traders were focusing on the OPEC meeting, and it certainly affected the market. The Canadian dollar together with other oil-related currencies sank after the gathering.

Canadian Inflation Pushes Loonie to New Highs

The Canadian dollar rose today, touching the highest level in a month against its US counterpart, as Canada’s inflation exceeded expectations. The currency also rallied to the strongest level in a year versus the euro and reached a new multi-year high against the Japanese yen.

Loonie Trades Mixed, but Higher Against the US Dollar

Canadian dollar is trading mixed today, but is higher against the US dollar. With oil prices recovering a bit, and with the greenback pulling back a little after its recent run, the loonie is pressing its advantage.

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