Bank of Canada — News Archive


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.

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.

USD/CAD Rallies Higher on BoC’s Financial System Review

The USD/CAD currency pair today rallied higher after the release of the Bank of Canada’s Financial System Review. The currency pair was on an uptrend for most of today’s session mainly boosted by the negative sentiment around global oil prices given that the Canadian dollar is a commodity-linked currency.

USD/CAD Recovers Lost Ground on Canadian Housing Price Index

The USD/CAD currency pair today recovered initially lost ground after the release of Canada’s housing price index data in the early American session. The pair had lost significant ground earlier in today’s session due to yield spread differentials that were much stronger than the impact of global oil prices on the loonie.

Canadian Dollar Weakens Against US Dollar on BoC Rate Decision

The Canadian dollar today weakened against its US counterpart after the Bank of Canada announced that it would maintain interest rates at the current levels. The release of the US new home sales data, which exceeded market expectations also contributed to the USD/CAD currency pair’s rally.

Canadian Dollar Falls as Uncertainty About Trade Relations Grows

The Canadian dollar fell against its US counterpart on Tuesday as investors grew more uncertain about the future of the North American Free Trade Agreement. Lower expectations of an interest rate hike in Canada and positive economic data in the United States widened the gap between the loonie and the greenback today.

Canadian Dollar Moves Lower Even as Crude Oil Rallies

The Canadian dollar fell a bit today even as prices for crude oil, Canada’s major export, rallied during the Monday’s session. Market analysts argued that the reason for that is diminishing prospect for an interest rate hike from the Bank of Canada.

Canadian Dollar Declines Against US Dollar on Weak GDP Data

The Canadian dollar today weakened against its US counterpart after the release of weak Canadian GDP data by Statistics Canada. Several releases from the US docket such as the personal income data for August also served to boost the US dollar against its Canadian counterpart.

Canadian Dollar Recovers After Wednesday’s Steep Decline

The Canadian dollar recovered today following yesterday’s steep decline, though the currency was still heading to weekly losses against most of its majors.