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Canadian Dollar Tumbles amid Crude Oil Sell-Off

The Canadian dollar fell more than 1% against its major counterparts today as the sell-off of crude oil hurt the commodity-linked currency while poor economic data from China gave traders even more incentive to avoid currencies related to raw materials.

Higher Oil Prices Help Canadian Dollar

Canadian dollar is getting a boost today, reaching its highest level against the US dollar in about nine months, and gaining against some of its other counterparts as well. Higher oil prices are providing support to the loonie today.

Oil Gives Canadian Dollar a Bump

Canadian dollar is getting a bit of a bump against its major counterparts today, thanks in large part to higher oil prices. With oil prices gaining again, that is helping the loonie, and should provide some support for the economy, although more swings are likely.

Australian Dollar Gains amid Confused Market Sentiment

Commodity currencies were mixed today as disappointing earnings of US companies did little to help in buoying the investors’ sentiment, but the rally of crude oil was lending support. The Australian dollar was the strongest among most-liquid commodity currencies, gaining on its major rivals.

Yen Mostly Rangebound as Traders Await Data

Japanese yen is mostly rangebound today as Forex traders wait for the latest data out of the United States. Yen has been reasonably strong recently and remains relatively strong as uncertainty continues in the market.

Oil Drops, Stalling Loonie’s Rally

Oil prices are dropping today, stalling the rally the Canadian dollar has been seeing in recent days. Yesterday, the loonie reached the 79-cent mark against the US dollar, and some think that Canadian dollar could breach 80 cents in the coming weeks.

US Dollar Feels Pressure from Domestic Data & Market Sentiment

The US dollar dropped today against most currencies as both domestic fundamentals and the general optimistic market sentiment weighed on the currency.

Yen Weaker After Crude Oil Bounces

The Japanese yen weakened today as the rally of crude oil prices and the subsequent appreciation of commodity currencies gave traders less incentive to stick to the safety of Japan’s currency.

Russian Ruble Sinks After Doha Meeting Failure

The Russian ruble dropped today as the meeting of major oil-producing countries in Doha failed to bring an agreement on freezing oil production.

Dollar Encounters Troubles with Moving Higher

The US dollar attempted to rally against other most-traded currencies this week but found limited success. The greenback gained on the euro and the Japanese yen but fell against the Great Britain pound and commodity currencies.

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