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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

GBP/CAD Recovers from 1.7285

The Great Britain pound versus the Canadian dollar currency pair succeeded in recovering after the price went beneath 1.7216. But is this a sustainable rise?

GBP/CAD Has Trouble Rising from 1.7285

The Great Britain pound versus the Canadian dollar currency pair seems to be having a hard time making new gains. Are the bears that determined?

Canadian Dollar Rallies Against US Peer, Falls on FOMC Minutes

The Canadian dollar today rallied slightly against the US dollar after the release of the mixed Canadian inflation data for July before losing its gains later. The USD/CAD currency pair then recouped its losses as the greenback recovered and rallied higher during the American session.

Canadian Dollar Pares Gain on Weaker Energy, Capped by Strong Manufacturing

The Canadian dollar pared its weekly gain to close out the trading week, driven primarily by slumping energy prices. But the loonie’s drop was capped by better-than-expected manufacturing data. Still, the Canadian dollar is poised for a significant 1% weekly advance against the US dollar as the currency continues its rebound following an abysmal first half of 2020.

Canadian Dollar Weakens Against US Dollar on Upbeat NFP Data

The Canadian dollar today lost ground against its southern neighbour driven by the upbeat US nonfarm payrolls report for July released in the American session. The USD/CAD traded higher boosted by the risk-off investor sentiment in the face of rising US-China tensions but gave up some of its initial gains as the loonie clawed higher.

Bulls on GBP/CAD Stopped by the Same 1.7565 Resistance Level?

The Great Britain pound versus the Canadian dollar currency pair dropped after a new attempt to conquer 1.7567 seems to have failed.

Canadian Dollar Rallies Against US Peer on Strong Oil Prices, Later Falls

The Canadian dollar today rallied against its US peer as oil prices hit new multi-month highs before giving up its gains and heading lower. The USD/CAD currency pair later recouped most of its losses as oil lost its lustre at a crucial resistance level dragging the loonie lower.

Canadian Dollar Rallies Against US Peer on Positive GDP Data

The Canadian dollar today posted slights gains against its US peer after the release of upbeat Canadian May GDP data in the American session. The USD/CAD currency pair was trading sideways with minimal losses for most of today’s session as global crude oil prices remained sidelined.

Bullish Determination Sent GBP/CAD Above 1.7285

The Great Britain pound versus the Canadian dollar currency pair printed a strong rally. Could the bears invalidate it?

GBP/CAD Undecided Around 1.7100 Area

The Great Britain pound versus the Canadian dollar currency pair seems to have trouble continuing the appreciation. Is this only a pause from the bulls or the bears are preparing their next movement?