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.
June 12th, 2014 at 21:44
The Canadian dollar had a mixed trading session today as fundamentals were confusing and did not give a clear direction for the currency to go. Over the longer term, the loonie still maintains its bullish bias against the US dollar and the euro and remains flat versus the Japanese yen.
June 10th, 2014 at 13:36
Better housing stats are helping the Canadian dollar against its European counterparts. However, the US dollar is still on something of a tear, and the loonie remains down against its neighbor to the south.
June 07th, 2014 at 0:03
The Canadian dollar ended the session without strong moves in either direction as today’s employment report sent confusing signals to the market, giving no edge either to bulls or to bears.
June 06th, 2014 at 9:00
The Canadian dollar was firm today despite yesterday’s negative data. An employment report will be released in Canada today and it is expected to be supportive to the nation’s currency.
June 04th, 2014 at 19:21
The Canadian dollar dropped today after the nation’s central bank maintained its overnight rate unchanged, in line with market expectations. Losses were limited, though, and the currency returned close to the opening level against some of its counterparts, including the euro and the Japanese yen.
June 03rd, 2014 at 14:18
Canadian dollar is lower today, continuing its weakness. Forex traders expect the Bank of Canada to keep rates steady this week, and a hike isn’t expected anytime soon.