The Canadian dollar reached today the highest level in almost six weeks against the US dollar on the outlook that the central bank would continue to raise the interest rates. The currency slipped versus the euro as doubts about the strength of the US economy remains, which is bad for the Canadian currency as the US is the major trading partner of Canada.
September 14th, 2010 at 19:46
September 13th, 2010 at 19:02
The brighter outlook for the economic growth of the US and China bolstered the stocks and the commodity prices today, improving the risk sentiment. The investors’ willingness to risk benefited the Canadian dollar, which jumped to the highest level in three weeks.
September 11th, 2010 at 16:46
The improving outlook for the global economic recovery helped the New Zealand dollar to rise for the most part of the week (in fact, the upward trend showed itself in the week before) and become one of the best performing currency (together with the Australian dollar) this week.
September 11th, 2010 at 1:46
The Australian dollar rallied today for the sixth straight day versus the euro and for the third against the US dollar and the Japanese yen as the outlook for the US and China’s economies improved, making the investors more willing to risk and increasing demand for the riskier assets.
September 10th, 2010 at 23:13
The Canadian dollar weakened today versus its US counterpart and halted the five-day rally against the euro after Mark Carney, the Governor of the Bank of Canada, said that the policy maker would be “careful” in considering whether to raise the interest further and their decision will be influenced by the outlook for the US economic growth. Currently the currency is slowly regaining its strength.
September 09th, 2010 at 18:00
The US dollar slipped today as the concerns for the global economic recovery eased and the demand for the safer currencies decreased after the positive macroeconomic data from the US was released, but the currency gradually returns to the levels at which it started today’s trading session.
The outlook for the Canadian dollar improved after Canada’s central bank raised the interest rates and issued the statement, which was much more hawkish than expected. Still, the uncertainty about the global economic growth will likely limit the potential loonie’s gains.
September 09th, 2010 at 10:51
The Australian dollar surged to the highest level since May versus the US currency after the government report showed that the employment in Australia increased more than forecast and the unemployment rate dropped.
September 08th, 2010 at 18:22
The Canadian dollar rebounded today against its US counterpart and rose versus the euro for the forth straight day as the Canadian central bank raised the interest rates and suggested that it may continue to raise the rates in the future as Canada’s economy still grows, albeit with the slower pace.
September 07th, 2010 at 22:46
The Canadian dollar slumped today against the US dollar on the concerns that the European sovereign-debt crisis may worsen and as the stocks and crude oil declined. The euro was hurt by the concerns about the sovereign debt more than the Canadian currency, therefore the loonie rose against the shared 16-nation European currency.