The New Zealand dollar versus the Canadian dollar currency pair is very consistent in its determination of reaching 0.8514 once more.
Canadian Dollar CAD
Detailed information and fundamental factors
Central Bank: Bank of Canada
Interest Rate: 1.75%
Public Debt to GDP Ratio, 2017: 98.2%
Trade Balance, 2018: -$36.3 bln.
Inflation, 2018: 2.3%
Supporting Factors
Major commodity exporter
medium
Factors of Weakness
Dependence on United States as a major counterparty
The Canadian dollar is the official currency of Canada and is the 7th most traded currency in the world. It is often nicknamed “loonie” for the image of the aquatic bird on $C1 coin. The loonie was introduced as a currency used in Canada and all of its provinces in 1871, while the fixed exchange rate was abandoned in 1970. It is used by some central banks as a reserve currency. The performance of the currency depends on raw materials. Prices for crude oil are the most influential factor on the value of Canada’s dollar as oil is the most important export of Canada.
Canadian Dollar News Archive
NZD/CAD Still Aiming for 0.8514
January 15, 2020 at 6:28 Canadian Dollar, New Zealand Dollar, Technical Analysis
AUD/CAD Trying to Keep the Gains at 0.9010
January 14, 2020 at 8:06 Australian Dollar, Canadian Dollar, Technical Analysis
The Australian dollar versus the Canadian dollar currency pair seems to be in a bullish profile. But is it really so?
CAD Mixed on Amazing Employment Data, Falling Crude Oil
January 10, 2020 at 16:38 Canadian Dollar
The Canadian dollar did not show a clear trend today, being under the influence of mixed fundamentals. Domestic employment data was surprisingly good but the drop of crude oil prices was weighing on the currency.
Loonie Extremely Weak on Negative Housing Data & Oil Prices
January 9, 2020 at 19:44 Canadian Dollar
The Canadian dollar was among the weakest currencies today, dragged down by negative domestic housing data. Both housing starts and building permits fell unexpectedly. The falling prices for crude oil, Canada’s biggest export, were weighing on the currency as well.
GBP/CAD Could Prepare for 1.7811
January 9, 2020 at 8:07 Canadian Dollar, Great Britain Pound, Technical Analysis
The Great Britain pound versus the Canadian dollar currency pair seems to have limited the bearish attempts to further induce a depreciation.
Canadian Dollar Weakens on Falling Crude Prices, Disappointing Exports
January 8, 2020 at 19:24 Canadian Dollar
The Canadian dollar is weakening against multiple currency rivals midweek as energy prices are hitting the loonie. President Donald Trump confirmed that Iran is “standing down” in the intense Middle East conflict, sending futures plunging. The loonie was also impacted by disappointing export data. Despite being one of the top-performing G20 currencies, the Canadian dollar has had a rough start to 2020.
Loonie Shows Good Performance Despite Adverse Fundamentals
January 7, 2020 at 20:05 Canadian Dollar
The Canadian dollar fared rather well today, rising against other most-traded currencies or at least staying flat against them. The notable exceptions were the US dollar and the Japanese yen. Losses versus the strong greenback were especially big. But overall, the loonie showed a rather decent performance considering negative macroeconomic data and falling prices for crude oil.
NZD/CAD May Now Be Heading for 0.8514
January 7, 2020 at 8:28 Canadian Dollar, New Zealand Dollar, Technical Analysis
The New Zealand dollar versus the Canadian dollar currency pair surprised the market by turning around. Is there any chance of a comeback?
AUD/CAD Could Revisit the 0.9010 Area
January 3, 2020 at 8:00 Australian Dollar, Canadian Dollar, Technical Analysis
The Australian dollar versus the Canadian dollar currency pair turned around from its initial path towards the 0.9300 level. Are the bulls only recharging or did they allow a bearish victory?
Will NZD/CAD Correct on Its Way to 0.8915?
December 27, 2019 at 9:39 Canadian Dollar, New Zealand Dollar, Technical Analysis
The New Zealand dollar versus the Canadian dollar currency pair managed to conquer the 0.8692 level. The continuation towards 0.8915 might come after a corrective phase.