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Canadian Dollar Near Highest Since November vs. US Dollar

The Canadian dollar rallied today, trading near the highest level since November against its US counterpart. The rally was fueled by the rise of crude oil prices as well as the general risk-positive market sentiment.

Canadian Dollar Finds Support in Woes of US Rival

The Canadian dollar bounced after the initial drop today. While domestic fundamentals were somewhat beneficial, the main reason for the bounce was the decline of the US dollar.

Loonie Falls Back After Yesterday’s Gains

Canadian dollar saw some measure of recovery yesterday, thanks in large part to recovering oil prices. Today the loonie is struggling again, falling as Forex traders consider the future of the Canadian economy, and as some engage in profit taking.

Higher Oil Prices Aren’t Helping Loonie Much Today

Oil prices are higher today, but that isn’t helping the loonie much. Canadian dollar isn’t showing much improvement today as it loses ground to some of its major counterparts.

Canadian Dollar Moves Higher Following Crude Oil

As it often happens, the Canadian dollar was tracking moves of crude oil prices. The prices were moving up during the Thursday’s trading session, therefore the currency was gaining as well.

Falling Crude Oil Prices Lead to Drop of Canadian Dollar

The Canadian dollar slid against other most-traded currencies today due to the slump of crude oil prices and the resulting risk-negative sentiment.

Canadian Dollar Gains Ground Along With Oil

Canadian dollar is higher today, thanks in large part to the fact that oil prices are higher. Unrest in the Middle East might be providing some of the support for oil prices.

Canadian Dollar Weak During Thursday’s Trading

There was a positive economic data released from Canada today but it proved to be of little help to the nation’s currency. While the Canadian dollar was surprisingly weak for the whole day, now it has even more reasons to go down as prices for crude oil backed off after the initial rally.

Canadian Dollar Goes Down Along with Crude Oil

The Canadian dollar declined against its major peers today as the news about a deal between Saudi Arabia and Russia to keep output of crude oil the same was not welcomed by markets.

How Long Will Loonie Remain a Petro-Currency?

The Canadian dollar is heading lower again today, thanks in large part to the fact oil prices are once again falling. However, while the loonie is likely to retain some of its ties to oil, some analysts are starting to question how long it will remain a true petro-currency.

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