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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

Canadian Dollar Weakens Against US Dollar on Risk-Off Sentiment

The Canadian dollar today dropped significantly against the US dollar as the risk-off sentiment in the markets drove the USD/CAD currency pair to new highs. The loonie’s slide against the greenback was further accelerated by the tariffs imposed by President Donald Trump‘s administration against Canadian imports.

USD/CAD Rallies Higher on Canadian Jobs Report, Later Declines

The USD/CAD currency pair today rallied higher after the release of the Canadian employment report for May, which missed expectations by a huge margin. The currency pair later retraced most of its gains as the markets digested the positive aspects of the report, while trade concerns limited the currency pair’s upside.

Canadian Dollar Trades Lower on Thursday

The Canadian dollar fell today amid the threat of trade wars and concerns about lack of progress in NAFTA talks. The big rally of crude oil prices was unable to help the currency.

Canadian Dollar Drops on Trade War Fears, Falling Crude Oil

The Canadian dollar fell against its major rivals on Tuesday amid concerns about trade wars between the United States and their allies, Canada being one of them. The drop of crude oil added to the currency’s woes.

Canadian Dollar Drops Against US Dollar on Weak Canadian GDP Data

The Canadian dollar today crashed to new lows against the US dollar following the release of disappointing Canadian Q1 GDP data in the early American session. The loonie’s fall triggered a rally in the USD/CAD currency pair as investors dumped the commodity-linked loonie in favor of the greenback.

Canadian Dollar Rallies Higher on BoC Interest Rate Decision

The Canadian dollar today rallied against its US counterpart driving the USD/CAD currency pair to new lows after the Bank of Canada announced its interest rate decision. The loonie’s rally was further boosted by disappointing releases from the US docket such as the weak quarterly GDP data.

Loonie Unable to Maintain Rally Despite Supportive Fundamentals

The Canadian dollar fell today after rallying intraday. That was surprising, considering that fundamentals looked extremely supportive for the currency.

Canadian Dollar Declines Against US Dollar on Weak Canadian CPI

The Canadian dollar today dropped significantly against the US dollar following the release of disappointing Canadian CPI data in the early American session. The loonie’s losses were further compounded by the stronger US dollar, which was boosted by rising US Treasury yields.

Canadian Dollar Stable After Domestic Economic Releases

The Canadian dollar was stable today following economic releases over the current trading session and ahead of important economic reports due for release tomorrow.

Canadian Dollar Drops Against US Dollar on Disappointing Jobs Report

The Canadian dollar today registered a significant loss against its American counterpart following the release of Canada’s April employment report in the early North American session. The loonie was stronger against the greenback in the Asian to mid-European sessions backed by the weakening US dollar following yesterday’s mixed US CPI report.

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