Crude Oil — News Archive

Canadian Dollar Dragged Down by Oil Prices & Falling GDP

The Canadian dollar was extremely weak today, falling even against the soft US dollar. The Canadian currency was dragged down by the slump of crude oil prices and the unexpected decline of Canada’s economy.

CAD Gains vs. EUR & AUD, Loses Gains vs. USD

The Canadian dollar gained against the euro and the Australian dollar today after a report showed that US inventories of crude oil shrank unexpectedly last week. The currency had also rallied against the US dollar but has lost its gains after the Federal Reserve concluded its policy meeting.

US Dollar Index Inches Higher Ahead of Today’s Fed Announcement

Forex traders and others are getting ready for a policy announcement from the Federal Reserve later today. Once again, expectations are that the Fed will raise rates sometime this year, and there are officials that think that there is room for two rate hikes in 2015. With higher rates on the way, the dollar is gaining strength.

Loonie Struggles Against Major Currencies on GDP, Oil

Canadian dollar is once against struggling overall against its major counterparts. While the loonie is managing gains against the greenback right now, it is having a more difficult time against other major currencies.

Canadian Dollar Pares Losses After Drop

The Canadian dollar dropped today, tracking decline of crude oil. Signs of slowdown in economies around the world were hurting currencies, especially those tied to growth. Yet the loonie is attempting to bounce right now, and it looks like the currency may pare most of its losses by the end of Friday’s trading.

Canadian Dollar Resumes Decline with Crude Oil

The Canadian dollar dropped today, reaching the lowest level since March 2009 against the US dollar, as crude oil prices resumed decline, joining other commodities in free fall.

CAD Rallies vs. USD as Crude Oil Halts Decline

The Canadian dollar gained on its US peer today as crude oil prices steadied, helping the loonie to halt its decline. The Canadian currency did not fare as well against other major rivals, being flat against the Japanese yen and sinking versus the euro.

Loonie Continues to Struggle Along With Oil

Canadian dollar is struggling again today, thanks in large part to continued concern over last week’s surprise rate cut and due to falling oil prices.

Canadian Dollar Follows Crude Oil Prices

The Canadian dollar sank during Tuesday’s trading but bounced to trade basically flat against its major peers. The moves of the currency followed the moves of crude oil prices after the Iranian nuclear deal was announced.

Canadian Dollar Supported by Employment Data

The Canadian dollar leaped against the US dollar and the Japanese yen (though fell versus the euro) after the release of employment data from Canada. While the report was not good strictly speaking, it was not as bad as economists had feared.

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