Canadian dollar extends weekly decline as retail sales sag

Canadian dollar extends weekly decline as retail sales sag

The Canadian dollar CADUSD weakened to its lowest level in more than two years against its US counterpart on Friday as the sell-off in global equity markets continued and domestic data showed retail sales falling more than expected in July. The loonie was trading 0.3 per cent lower at 1.3525 to the greenback, or 73.94 … Read more

Canadian dollar touches 10-day low; decline capped as oil prices rise

Canadian dollar touches 10-day low; decline capped as oil prices rise

The Canadian dollar CADUSD weakened to a 10-day low against its broadly stronger US counterpart on Thursday as investors continued to assess minutes from the Federal Reserve’s latest policy meeting, but the decline was limited as oil prices moved higher. The loonie was down 0.1% at 1.2920 to the greenback, or 77.40 US cents, after … 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

Canadian dollar rises to two-month high on growing signs of easing U.S. inflation

Canadian dollar rises to two-month high on growing signs of easing U.S. inflation

The Canadian dollar CADUSD climbed to its highest level in more than two months against a broadly weaker US counterpart on Thursday as oil prices rose and investors grew more optimistic about the global economic outlook. The loonie was trading 0.1% higher at 1.2765 per greenback, or 78.34 US cents, after touching its strongest level … Read more

Canadian dollar slips slips but posts biggest weekly gain of 2022

Canadian dollar slips slips but posts biggest weekly gain of 2022

The Canadian dollar CADUSD edged lower against its US counterpart on Friday as oil prices fell, but the currency still notched its biggest weekly gain this year as signs of US inflation peaking eased worries of aggressive tightening by the Federal Reserve. The loonie was trading 0.1% lower at 1.2775 to the greenback, or 78.28 … Read more

Canadian dollar rallies to 6-week high as prospects of BoC pause recede

Canadian dollar rallies to 6-week high as prospects of BoC pause recede

The Canadian dollar CADUSD on Thursday strengthened for the sixth day in seven against its broadly weaker US counterpart as oil prices rose and the Bank of Canada signaled it has much more work to do to bring inflation under control. Canada’s central bank will probably have to raise its policy rate to the top … Read more

Canadian dollar gains for sixth day ahead of expected Bank of Canada rate hike

Canadian dollar gains for sixth day ahead of expected Bank of Canada rate hike

The Canadian dollar CADUSD strengthened to its highest level in nearly six weeks against its broadly stronger US counterpart on Wednesday, as oil prices rose and investors awaited a Bank of Canada interest rate decision. Canada’s central bank is widely expected to raise interest rates by half a percentage point for a second straight meeting. … Read more

Canadian dollar rallies as current account surplus hits 14-year high

Canadian dollar rallies as current account surplus hits 14-year high

The Canadian dollar CADUSD The Canadian dollar rose to its highest level in more than five-weeks against the greenback on Monday, as data showed Canada’s current account surplus turning positive and ahead of an expected interest rate hike this week by the Bank of Canada. Canada’s current account surplus was C$5.0 billion in the first … Read more

Canadian dollar climbs to two-week high as China eases lending rate

Canadian dollar climbs to two-week high as China eases lending rate

The Canadian dollar strengthened to its highest level in more than two weeks against its US counterpart on Friday as Chinese authorities moved to cushion the impact of an economic slowdown, with the currency on track to snap a weekly losing streak. Stock markets globally rebounded after China cut a key lending benchmark to support … Read more

Canadian dollar notches two-week high as China restrictions ease

Canadian dollar notches two-week high as China restrictions ease

The Canadian dollar strengthened to its highest level in two weeks against its US counterpart on Thursday as China eased restrictions to contain the spread of the coronavirus and the greenback broadly fell. The loonie was trading 0.8% higher at 1.2790 to the greenback, or 78.19 US cents, after touching its strongest level since May … Read more