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
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
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
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
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
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
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
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
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
High inflation and a strong US dollar will weigh heavily on Canadian snowbirds this winter, experts say. As the cold months approach, Snowbird Advisor president Stephen Fine said some snowbirds are opting for a shorter travel period or eyeing different destinations due to the rising cost of everything combined with a weak Canadian dollar. Snowbirds … Read more
