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Canadian Dollar Falls as Traders Weigh Chances for Fed Tapering

The Canadian dollar fell today as Forex traders were weighing chances for the US Federal Reserve to taper its monetary stimulus at this week’s policy meeting. The losses were not particularly big as the market was somewhat quiet ahead of the gathering.

Loonie Pulls Back After Recent Gains

Canadian dollar is heading lower today following a few days of gains against most of its major counterparts. The loonie saw some solid gains on recent oil prices data, but now it appears that some Forex traders are taking profits and trying to position themselves for what might be next.

Bank of Canada Keeps Rates Steady; Loonie Falls

The Canadian dollar is falling against its major counterparts today as the Bank of Canada keeps rates steady. Citing concerns about the Canadian economy, the BOC is keeping rates low, which has the effect of weakening the loonie.

CAD Slides vs. USD Ahead of BoC Meeting, Stronger vs. EUR & JPY

The Canadian dollar slid today against its US counterpart, but managed to log gains versus the euro and the Japanese yen. This week should be important for the currency as the Canadian central bank conducts its monetary policy meeting on Wednesday.

Positive GDP Does Not Help Canadian Dollar to Gain

Canada’s economy maintained pace of its growth in September. The Canadian dollar attempted to rally on the positive data, but failed and now trades near the lowest level since October 2011 against its US counterpart.

More Weakness for the Canadian Dollar

The Canadian dollar continues to weaken. Evidence of economic slowing is weighing on the loonie, and there is speculation that the Bank of Canada will decide to cut interest rates at some point in the near future in order to stimulate the economy a bit.

Canadian Dollar Stronger After Yellen’s Speech

The Canadian dollar rallied against its US counterpart yesterday and remained strong today on prospects for prolonged monetary stimulus from the Federal Reserve. The currency also rose against the Japanese yen, but was flat against the euro.

Bank of Canada Makes Week Bad for Canadian Dollar

This week was bad for the Canadian dollar as the central bank hurt the currency after it dropped its hawkish stance and refrained from mentioning plans for an interest rate hike.

Bank of Canada Announcement Weighs on Loonie

Yesterday’s announcement from the Bank of Canada continues to influence the loonie in trading. The Canadian dollar is still struggling today after the change in the central bank’s stance, and the language used to forecast the likely economic situation through 2015.

Less Hawkish BoC Damages Canadian Dollar

The Canadian dollar demonstrated a sharp drop today as the Bank of Canada left interest rates unchanged and, what is more important, dropped hints of eventual interest hike from its statement.

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