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 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 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