Hope for U.S. Federal Reserve pivot help Canadian dollar extend weekly gain

Hope for U.S. Federal Reserve pivot help Canadian dollar extend weekly gain

The Canadian dollar CADUSD strengthened against its US counterpart on Friday, adding to this week’s gains, after suspected Bank of Japan intervention and as investors weighed prospects of the US Federal Reserve dialing back the pace of interest rate hikes. The Canadian dollar was up 0.7% at 1.3670 to the greenback, or 73.15 US cents, … Read more

Canadian dollar pares decline as hot inflation bolsters rate hike bets

Canadian dollar pares decline as hot inflation bolsters rate hike bets

The Canadian dollar CADUSD weakened against its US counterpart on Wednesday as investor sentiment soured, but the currency’s decline was capped as hot domestic inflation data led to raised bets on another jumbo interest rate hike by the Bank of Canada. Canada’s annual inflation rate inched down to 6.9 per cent in September, Statistics Canada … Read more

Canadian dollar gains as oil prices rally, investors weigh British PM Liz Truss’s resignation

Canadian dollar gains as oil prices rally, investors weigh British PM Liz Truss’s resignation

The Canadian dollar CADUSD strengthened against its US counterpart on Thursday as commodity prices climbed and investors weighed the resignation of the British prime minister. The price of oil, one of Canada’s major exports, rose in response to tighter supplies and on news that China is considering a cut in the duration of quarantine for … Read more

Canadian dollar clings to prior day’s gains as equity markets rise

Canadian dollar clings to prior day’s gains as equity markets rise

The Canadian dollar CADUSD was unchanged against its US counterpart on Friday, with the currency holding on to its prior day’s gains as global equity markets rose and despite domestic data showing factory sales fell for a fourth straight month. Stocks rose and bond yields fell amid speculation of a British government U-turn on fiscal … Read more

Canadian dollar hits two-year low as U.S. inflation data spooks investors

Canadian dollar hits two-year low as U.S. inflation data spooks investors

The Canadian dollar CADUSD weakened to its lowest level in more than two years against its US counterpart on Thursday and bond yields jumped as hotter-than-expected US inflation data bolstered bets for additional tightening by the Federal Reserve. Stocks globally fell as US consumer prices increased 8.2 per cent in September and underlying inflation pressures … Read more

Canadian dollar steadies near two-year low as investors eye U.S. inflation data

Canadian dollar steadies near two-year low as investors eye U.S. inflation data

The Canadian dollar CADUSD was little changed against its US counterpart on Wednesday, holding near its weakest level in over two years, as oil prices fell and investors weighed data showing US producer prices climbed more than expected in September. Equity markets globally hovered near recent lows as US producer prices rose at an annual … Read more

Canadian dollar hits a two-year low as risk aversion weighs on global markets

Canadian dollar hits a two-year low as risk aversion weighs on global markets

The Canadian dollar CADUSD was little changed against its US counterpart on Tuesday but holding near its weakest level in more than two years as investor sentiment remained fragile ahead of a key US inflation reading this week. The loonie was trading nearly unchanged at 1.3780 to the greenback, or 72.57 US cents, after touching … Read more

Canadian dollar slides on wave of U.S. dollar buying

Canadian dollar slides on wave of U.S. dollar buying

The commodity-linked Canadian dollar CADUSD weakened against its US counterpart on Wednesday as the greenback broadly climbed and domestic data showed exports falling in August, with the loonie losing ground despite higher oil prices. The Canadian dollar was down 0.7% at 1.36 to the greenback, or 73.53 US cents, after trading in a range of … Read more

Canadian dollar notches 11-day high as investors shed greenbacks

Canadian dollar notches 11-day high as investors shed greenbacks

The Canadian dollar CADUSD strengthened against its US counterpart on Tuesday, adding to sharp gains the day before, as the possibility of central banks shifting away from aggressive tightening led to profit-taking in the high-flying greenback. The loonie was trading 0.8% higher at 1.3610 to the greenback, or 74.02 US cents, after touching its strongest … Read more