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Canadian Dollar Weakens As Foreign Investors Dump Securities

The Canadian dollar is sliding against major currency rivals to start the trading week. The loonie’s performance on Monday is being driven primarily by the decline in foreign acquisitions of Canadian investments. Aside from that, there is very little news and economic data coming out of Ottawa, prompting traders to rely on the status quo of the Canadian economy, which is bearish.

Canadian Dollar Falls As Economy Sheds Jobs, Raises Unemployment Rate

The Canadian dollar is sliding against several major currency rivals to finish out the trading week. The loonie’s descent was driven by a mostly disappointing labor report that saw the economy experience its weakest three-month period of job creation in more than a year. Housing numbers were also down, though many of them were better than what the market had anticipated.

Canadian Dollar Recovers After Drop Caused by BoC Policy Decision

The Canadian dollar dropped today following the monetary policy decision made by the Bank of Canada. The drop was short-lived, though, and the loonie has erased losses versus most of its major peers by now. The currency even gained on the US dollar, which weakened due to the outlook for interest rate cuts from the Federal Reserve.

Canadian Dollar Mixed on Housing Data, Upcoming BOC Decision

The Canadian dollar is mixed against a basket of currencies on Tuesday, driven primarily by housing data that pleased and displeased investors. The loonie is also waiting for the Bank of Canada (BOC)’s decision on interest rates this week that will either mirror its American counterpart or adopt a wait-and-see approach.

Canadian Dollar Forecast for 8-12 July 2019

The Canadian dollar ended the last trading week as the strongest among most-traded currencies despite surprisingly poor employment data. What expects the loonie during the current week? The week will be less eventful than the previous one, with the Bank of Canada monetary policy meeting being the only major event important for the Canadian currency specifically.

Canadian Dollar Rises Sharply as Consumer Inflation Beats Expectations

The Canadian dollar was firm today after nation’s consumer inflation accelerated and beat analysts’ expectations. The rally of crude oil prices likely also helped the currency.

Canadian Dollar Mixed on Disappointing Auto Sales, Rising Energy Prices

The Canadian dollar is mixed at the end of the trading week, finding direction against several currencies on recent automobile sales data and rallying crude oil prices. The loonie is trying to take advantage of the many dovish comments at the Federal Reserve, further helping the dollar pare its losses in the last week.

Canadian Dollar Unable to Keep Momentum From Strong Data

The Canadian dollar is weakening on mixed data on Tuesday. The loonie has been unable to keep the momentum from last week’s stellar economic data, gradually paring its gains against the greenback on the year. The Canadian buck could further weaken over the summer as the central bank is unlikely to put forward an aggressive normalization strategy until at least after the federal election.

US Dollar Gains vs. Riskier Currencies, Falls vs. Safer Ones During Week of Risk Aversion

Trade wars and the resulting risk aversion on markets were the main themes during the past trading week. The US dollar reacted in an expected manner, rising versus riskier currencies but underperforming against safer ones.

CAD Drops After BoC Monetary Policy Meeting, Crude Oil Likely to Blame

The Canadian dollar was largely soft today, though it has managed to trim its losses by now, even gaining on the euro. The decline of crude oil prices is likely to blame for the poor performance of the currency as domestic news did not bring anything particularly bad.

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