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Canadian Dollar Soft, Recovers vs. US Dollar

The Canadian dollar fell against other most-traded currencies today, though managed to recover versus the US dollar by now. The currency was under pressure from a range of negative factors, including falling prices for crude oil, trade tensions with the United States, and underwhelming domestic macroeconomic data.

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.

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.

EUR/USD Drops on Renewed US Dollar Demand Ahead of FOMC Decision

The euro today dropped to new lows against the US dollar following a resurgent demand for the greenback ahead of the FOMC interest rate decision. The EUR/USD currency pair broke down from its initial sideways trading range in the early American session as the greenback rallied higher.

EUR/USD Trades in a Tight Range on Both Eurozone and US Data

The EUR/USD currency pair today traded in a tight range from the early European session following the release of mixed Eurozone data. The currency pair remained stable during the American session following several US releases such as the ADP employment change data.

Canadian Dollar Fails to Find Support from Positive Fundamentals

The Canadian dollar dropped against its most-traded rivals today. That was puzzling considering that the employment report released during the trading session was good and crude oil prices rose.

USD/CAD Rallies on BoC Rate Decision amid Trade Tensions

The Canadian dollar today weakened against its US counterpart after the Bank of Canada left interest rates intact, which drove the USD/CAD currency pair to new highs. The Canadian dollar was also under intense selling pressure due to fears that a trade war with the USA would hurt the country’s economy as the US is a major export market.

Euro Rallies Higher Against US Dollar on Upbeat Eurozone CPI

The euro today rallied higher against the US dollar amid a raft of macro releases from both the Eurozone and the US dockets. The single currency was boosted by the release of German December employment change data, which was better than expected.

British Pound Gains Against US Dollar on Positive UK and US Data

The British pound today gained ground against the US dollar amid a raft of positive UK macro releases such as the Markit/CIPS UK Services PMI. Positive releases from the US docket in the early American session could not derail the pound’s rally against the US dollar.

USD/CAD Rallies Higher on BoC Rate Decision

The USD/CAD rallied higher by over 100 points after the Bank of Canada released its monetary statement leaving interest rates unchanged at 1.00%. The US dollar rallied against the commodity-linked loonie even as global oil prices traded at daily lows.

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