Crude Oil — News Archive

Lower Chances for Interest Rate Cut Mean Stronger CAD

The Canadian dollar gained today with the help of rising oil prices as well as yesterday’s speech from the central bank’s chief that made traders reevaluate chances for an interest rate cut.

Canadian Dollar Bounces Back After Earlier Losses

Canadian dollar was losing ground to its major counterparts earlier, but now the loonie has bounced back a bit. Speculation about the eurozone, along with concerns about what’s next for the US dollar, not to mention the results of profit taking, are helping the Canadian dollar inch a bit higher.

Canadian Dollar Gains for Second Day

The Canadian dollar went higher today with the help of better-than-expected macroeconomic data from Canada as well as due to the rally of crude oil prices. It was the second consecutive daily gain against the US dollar and the euro.

Canadian Dollar Attempts to Hold Ground Despite Falling Oil

The Canadian dollar dropped today, declining for the second consecutive session against its US counterpart and the euro, following the slump of prices for crude oil — the major Canada’s export commodity. The loonie is trying to hold ground though, and the currency trimmed its losses as of now.

Market Sentiment & Drop of Oil Prices Drag Canadian Dollar Down

The Canadian dollar dipped today because of the risk-negative sentiment prevalent on the Forex market as well as due to the drop of crude oil prices. The loonie, as most other currencies, attempted to rally against the Japanese yen at the beginning of the current trading session but failed and trades below the opening level as of now.

Canadian Dollar Pares Tuesday’s Gains

The Canadian dollar dropped against its major counterparts today, erasing yesterday’s gains. The currency dropped as prices for crude oil declined while concerns about global growth resulted in the market sentiment that was adverse to riskier commodity-related currencies.

Plenty of Reasons for Canadian Dollar to Rally

The Canadian dollar gained against safe currencies, namely the US dollar and the Japanese yen, today. The currency also trimmed its losses versus the euro though remained below the opening level against the shared 19-nation currency.

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.

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.

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.

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