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Canadian Dollar Weakens on Falling Oil Prices, Bearish BOC Warning

The Canadian dollar is tumbling on Thursday as the price of oil plunges and the Bank of Canada (BOC) issues another bearish warning about the national economy. The loonie has performed poorly against the greenback, sliding nearly 1% over the last week and 7% so far this year.

Canadian Dollar Tanks on Dovish BoC

The Canadian dollar sank today following the release of a surprisingly dovish policy statement from the Bank of Canada. The currency traded at the lowest level since September against most of its major rivals, while against the US dollar the loonie touched the lows not seen since June 2017.

Canadian Dollar Surges on Trade Truce, Higher Energy Prices

The Canadian dollar is surging against its American counterpart to start the trading week, supported by rallying energy prices and the temporary pause in trade hostilities between the world’s two largest economies. The loonie, which has retreated nearly 5% this year, is looking to finish the year strong.

Canadian Dollar Pares Losses on Energy Prices, Account Deficit

The Canadian dollar is paring its earlier losses against its American counterpart on Thursday, buoyed by rallying energy prices and a smaller current account deficit. The loonie has weakened nearly 1% over the last trading week, mainly because of the bear market in international crude oil markets.

Canadian Dollar Rebounds From Five-Month Low Amid Crude Oil Rally

The Canadian dollar is rebounding from its lowest level in five months on Wednesday as crude oil prices are rallying about 2%. The loonie’s gains were capped by recent dovish comments by a senior Bank of Canada (BOC) official who warned about consumer finances amid rising interest rates.

Canadian Dollar Rises on Oil Prices, Manufacturing Data

The Canadian dollar is posting modest gains at the end of the trading week, buoyed by higher energy prices and positive manufacturing data. Amid cratering crude prices, the loonie has struggled to find direction, mainly because traders are waiting to see what the Organization for Petroleum Exporting Countries (OPEC) will do relating to output.

Canadian Dollar Struggles to Find Direction Amid Crashing Crude Prices

The Canadian dollar is trading relatively sideways on Tuesday as the price of crude oil crashes. The loonie, which slipped to a four-month low early in the trading day, is attempting to snap its four-session losing streak. Without any major Canadian events, investors may not have an appetite for the currency.

Canadian Dollar Sideways Amid Lower Crude Prices, BOC Comments

The Canadian dollar was unable to keep the momentum from last week’s strong jobs report, and the loonie could not get a boost on Monday on bullish comments from the head of the Bank of Canada (BOC). Investors might find direction in the results of Tuesday’s US midterm elections, as well as some American and Canadian economic data this week.

Canadian Dollar Weakens As BOC Rate Hike Buzz Fades

The Canadian dollar is trading slightly lower on Monday as the buzz from the Bank of Canada (BOC)’s recent increase to interest rates has ostensibly faded. Investors will comb through various reports and forecasts pertaining to the national economy in both the short- and long-term until important data is published. It did not help with energy prices tumbling to start the trading week.

Loonie Rallies After Bank of Canada Rate Hike

The Canadian dollar today rallied to new highs against most of its peers including the US dollar after the Bank of Canada announced its interest rate decision in the early American session. The loonie’s rally was further boosted by the hawkish tone in the bank’s monetary policy statement, which investors interpreted as hinting at more rate hikes in future.

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