Bank of Canada — News Archive


Canadian Dollar Surges amid Higher Bond Yields, Strong Jobs Report

The Canadian dollar strengthened against its US counterpart to close out the trading week, buoyed by a better-than-expected jobs report and rallying bond yields. Despite some tepid hiccups this year, the loonie has gained about 2% against the greenback so far in 2021. With rising energy prices and the economic recovery advancing, the Canadian dollar might have more room for growth. According to Statistics Canada, the economy added 259,200 new […]

Loonie Falls Against Dollar on Weak Oil Prices, Gains on BoC Rate Decision

The Canadian dollar remained largely weaker than the US dollar, driven by the weak crude oil prices that weighed on the commodity-linked loonie. The USD/CAD currency pair’s gains went against the losses incurred by the greenback as US Treasury yields fell amid the expected increase in US bonds’ supply.

Canadian Dollar Falls As Crude Oil Slumps, Keystone XL Pipeline Canceled

The Canadian dollar is weakening against its US peer to finish the trading week, paring most of its gains from recent sessions. The loonie is slumping amid declining crude oil prices and developments on the Keystone XL pipeline front. But positive economic data offset some of the bearish news. Could the currency’s push over the last several months come to a screeching halt?

Canadian Dollar Rallies on BoC Rate Decision and Biden Inauguration

The Canadian dollar today rallied higher against its US peer after the Bank of Canada left interest rates unchanged with a bullish economic outlook. The USD/CAD currency pair fell to new multi-year after Joe Biden’s inauguration marked the end of the Donald Trump era.

USD/CAD Struggles for Direction Amid Oil Rebound, Disappointing Manufacturing Sales

The Canadian dollar is struggling for direction against its US counterpart on Tuesday, with the loonie finding support from a rebound in crude oil prices after enduring disappointing manufacturing numbers. The Canadian dollar has been trading relatively flat in the first few weeks of the calendar year. Could it be a flat first quarter for the loonie?

Canadian Dollar Falls As New COVID-19 Strain Weighs on Crude Oil

The Canadian dollar fell against its US counterpart on Tuesday as a new strain of the coronavirus weighed on crude oil prices. So far this holiday-shortened trading week, investors have been seeking refuge in the traditional safe-haven asset, highlighting legitimate concerns over the threat of this COVID-19 mutation. Will other currencies in foreign exchange markets slump should the situation intensify?

Canadian Dollar Plunges Despite Upbeat Retail Sales, Rising Oil Prices

The Canadian dollar today continued to lose ground against its US neighbour driven by the risk-off market sentiment, which favoured the safe-haven greenback. The USD/CAD currency pair rallied higher reversing yesterday’s losses as investors flocked ignored rising oil prices, causing the commodity-linked loonie to fall.

Canadian Dollar Plunges on Dovish BoC and FOMC Rate Decision

The Canadia dollar was on a losing streak today as investors digested yesterday’s dovish comments by the Bank of Canada regarding the currency’s value. The USD/CAD currency pair today rallied higher as investors sold the loonie after realising that Canada’s central bank was very uncomfortable with its strength.

Canadian Dollar Pauses 2020 Rally Against US Peer Amid Falling Crude Prices

The Canadian dollar weakened against its US peer to close out the trading week, with energy prices and producer prices coming into focus. The loonie is still on track to record a modest weekly gain against the greenback, but its overall 2020 performance in the foreign exchange markets has been remarkable.

Canadian Dollar Mixed After BoC Keeps Monetary Policy Unchanged

The Bank of Canada held a monetary policy meeting today and announced after its conclusion that the policy remains unchanged. The Canadian dollar was not demonstrating a clear trend after the announcement, falling against some rivals and rising versus others.