Canadian dollar hits two-year low as inflation pressures ease

Canadian dollar hits two-year low as inflation pressures ease

The Canadian dollar CADUSD weakened to its lowest level in nearly two years against its US counterpart on Tuesday as the greenback broadly climbed and domestic data showed inflation easing more than expected in August. Canada’s annual inflation rate slowed to 7.0% in August, below analyst forecasts of 7.3% and down from 7.6% in July. … Read more

Canadian dollar strengthens as oil prices rebound

Canadian dollar strengthens as oil prices rebound

The Canadian dollar CADUSD rallied against its broadly weaker US counterpart on Monday as oil prices rose and investors continued to bet on another oversized interest rate hike by the Bank of Canada despite disappointing Canadian jobs data last week. The price of crude oil, one of Canada’s major exports, rebounded from a six-month low … Read more