Bank of Canada — News Archive


Canadian Dollar Falls on Bad Consumer Data, Capped by Crude Oil

The Canadian dollar is retreating from a two-month high midweek as disappointing consumer data weighed on the currency. The losses were capped by a modest rally in crude oil prices. While the market is anticipating a lower loonie in the near-term, the experts say this could rescue the Canadian economy.

Canadian Dollar Weakens on Sliding Crude Prices, Sluggish Growth

The Canadian dollar is losing ground against its major currency rivals to kick off the trading week. The loonie is falling on sliding crude oil prices, bearish economic data, and a dovish Bank of Canada (BOC) that is unlikely to raise interest rates for another few months.

Canadian Dollar Weakens on Oil Crash, Poor Data

The Canadian dollar is kicking off the trading week falling against its major currency rivals. The loonie is getting battered on cratering crude oil prices, as well as poor economic data that suggests the country could be heading for a significant slowdown. Will the dollar continue to slide, or will it pull off an upset and surprise the experts?

Canadian Dollar Strengthens As BOC Weighs Rate Hike

The Canadian dollar is strengthening against its US counterpart as the central bank hinted that a rate hike is on the table, but it depends entirely on economic data – both at home and abroad. The loonie has improved against the greenback so far this year, despite the Bank of Canada (BOC) taking a wait-and-see approach on interest rates. Rising crude oil prices are also helping lift the currency to finish off […]

Canadian Dollar Declines Against US Dollar on Weak Retail Sales Data

The Canadian dollar today dropped to new daily lows against its US counterpart following the release of weak Canadian retail sales data. The loonie had made gains against the greenback earlier today as evidenced by the USD/CAD currency pair’s decline before retracing all of its gains after the release.

Canadian Dollar Rises on Soft US Inflation, Crude Supply Contraction

The Canadian dollar is rising midweek after the US government reported soft inflation levels. The loonie is also getting a lift on market expectations that US crude oil inventories will record a contraction. This comes as market sentiment pertaining to the short-term health of the currency is split.

Canadian Dollar Weakens on Grim Forecasts, Falling Oil Prices

The Canadian dollar is weakening to end the trading week as grim forecasts and disappointing numbers are sending the currency lower. The loonie was most impacted by a dovish central bank this week as interest rates were left unchanged and the governor sounding the alarm on the broader economy. The country’s trade picture did not help matters.

Canadian Dollar Firm on Positive Macroeconomic Data

The Canadian dollar performed fairly well today thanks to positive domestic macroeconomic data and rebounding crude oil prices. The currency fared far worse yesterday, falling after the monetary policy meeting of the Canadian central bank.

Canadian Dollar Seeks Direction Ahead of Major News This Week

The Canadian dollar is trying to find direction at the start of the trading week ahead of several major news events in the coming days. The loonie is trying to keep up the momentum from last week on the better-than-expected jobs report and rallying energy prices.

Canadian Dollar Surges to Two-Week High on High Energy Prices

The Canadian dollar surged to its best level in two weeks, just days after lodging its worst annual performance since 2015. The loonie is gaining steam on higher energy prices, but investors are looking to Friday’s labor report, which could signal how the Bank of Canada (BOC) will move on interest rates later this month.