Canadian dollar is making up some lost ground today, gaining against the US dollar. After disappointing data at the end of last week, the loonie headed lower, but today the Canadian currency is making something of a turnaround. Many Forex traders are looking forward to the interest rate announcement expected from the Bank of Canada on Wednesday.
July 11th, 2014 at 13:55
Canadian employment demonstrated strong growth in May and economists were expecting June to follow suit, showing continuous improvement of the labor market. Yet today’s report provided a nasty surprise to those Forex market participants who were hoping to buy the loonie as employment data was not good at all, driving the currency down sharply.
July 09th, 2014 at 13:24
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.
July 07th, 2014 at 21:41
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.
July 04th, 2014 at 2:18
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.
June 30th, 2014 at 18:35
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.
June 24th, 2014 at 13:37
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.
June 20th, 2014 at 19:04
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.
June 18th, 2014 at 12:27
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.
June 16th, 2014 at 13:42
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.