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Canadian Dollar Firm After BoC Policy Meeting

The Canadian dollar was firm today, though fell against other commodity currencies. The loonie rallied even after the Bank of Canada signaled that it plans to keep monetary policy accommodative for a long time. Domestic housing data was favorable but hardly had any impact on the Canadian currency.

Canadian Dollar Slumps to Two-Week Low As 8% Oil Crash Impacts Loonie

The Canadian dollar is slumping to its lowest level in two weeks against the US dollar on Tuesday. The loonie is plummeting primarily on crude oil crashing as much as 9%, joining the broader market selloff. It is going to be relatively quiet on the data front this week, which means the loonie will find direction on energy prices and the central bank’s midweek policy meeting.

Canadian Dollar Fails to Garner Momentum on Stellar Jobs Report, Rising Energy Prices

The Canadian dollar is failing to garner momentum at the end of the trading week, despite a stellar jobs report and rising energy prices. The loonie has rebounded substantially since the market meltdown in March, driven primarily by greater confidence in global financial markets and rallying crude oil prices. Analysts are optimistic of a strong second half for the Canadian dollar, so could it happen?

Canadian Dollar Mixed As BoC Warns of ‘Prolonged and Bumpy’ Recovery

The Canadian dollar is trading mixed on Tuesday after the central bank warned that the economy faces a “prolonged and bumpy” recovery that might require additional fiscal and monetary stimulus tools. The loonie is finding support in rallying crude oil prices that have enjoyed multi-month highs after sliding below zero in April.

Canadian Dollar Flat As Retail Sales Collapse in April, Finds Support in Crude

The Canadian dollar is trading relatively flat against many of its currency competitors to finish the trading week. The latest economic data showed just how severe the coronavirus pandemic lockdown was to the Great White North, but the increase in crude oil prices helped limit any of the loonie’s losses.

Canadian Dollar Weak Despite Upbeat Q1 GDP as US Dollar Rallies

The Canadian dollar today remained weak against the US dollar despite the release of upbeat Canadian GDP data in the early American session. The USD/CAD currency pair kept trading near the two and half month lows as investors waited patiently for Trump’s speech.

Canadian Dollar Drops Against US Peer, Recovers on Poloz’s Speech

The Canadian dollar today lost ground against its US peer as the greenback posted gains boosted by President Donald Trump’s comments about a strong dollar. The USD/CAD rallied higher earlier today before giving up all its gains later in the session as the loonie recovered on hawkish comments from the Bank of Canada Governor.

Loonie Sinks As Crude Oil Trades at 18-Year Lows Despite Supply Cuts

The Canadian dollar today extended its losing streak against the US dollar for the second day in a row despite yesterday’s hawkish rate decision by the Bank of Canada. The USD/CAD currency pair surged higher as the loonie remained under pressure due to falling crude oil prices despite recent output cust by OPEC+ and some US producers.

Canadian Dollar Plunges As GDP Contracts 9% in March, BoC Unveils New QE

The Canadian dollar hit the pause button on its recent rally after the federal government released its gross domestic product (GDP) reading early for the first time ever. The loonie is slumping on news that economic activity suffered the biggest monthly decline in history. With falling energy prices and accommodating central bank, it could be a downward trend for the Canadian dollar in the near-term.

Canadian Dollar Weakens As BoC Imposes Emergency Interest Rate Cut

The Canadian dollar is weakening against many currency rivals to finish out the trading week. Following a week of modest gains, the loonie is falling on the central bank announcing an emergency cut to interest rates as the economy gets battered by coronavirus outbreak and tumbling energy prices.

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