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Loonie Mixed Despite Positive Fundamentals

The Canadian dollar was mixed today, falling against such currencies as the US dollar and the euro but rising versus safe currencies, like the Japanese yen and the Swiss franc. Fundamentals specific for the loonie were largely positive, but apparently, factors that were affecting the Forex market in general had a bigger impact on the Canadian currency.

Canadian Dollar Mixed amid Opposing Fundamentals

The Canadian dollar was mixed today, unsure where to go amid opposing fundamentals. While domestic macroeconomic data was very detrimental to Canada’s currency, rising prices for crude oil was a supportive factor for the loonie.

Canadian Dollar Attempts to Rally Following Rising Prices for Crude

The Canadian dollar attempted to rally against its major rivals today. While the currency managed to log gains against most of them, the rally was limited, and the loonie was unable to outperform the extremely strong Swiss franc.

Rising Oil Prices Help Canadian Dollar Ignore Unfavorable Data

The Canadian dollar was generally firm today despite unfavorable domestic macroeconomic data. The likely reason for the loonie’s good performance was the sharp rally of prices for crude oil, Canada’s major source of export revenue.

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.

Loonie Shows Mixed Performance Despite Strong Retail Sales

The Canadian dollar showed mixed performance today despite favorable retail sales data. The explanation for this could be strength of its rivals as well as the decline of crude oil prices.

Canadian Dollar Firm As Crude Oil Rallies More than 1%

The Canadian dollar was generally strong on Monday, likely due to the rally of crude oil prices. The loonie often follows moves of the commodity because it is Canada’s biggest source of export revenue.

Canadian Dollar Ends Week Soft due to GDP, Crude Oil Prices

The Canadian dollar sank this week, ending as the weakest currency on the Forex market, due to poor domestic macroeconomic data. There were plenty of important events this week, both good and bad.

Canadian Dollar Follows Crude Oil in Decline

While most riskier commodity-geared currencies were rallying today, the Canadian dollar declined. With absence of other apparent reasons, market analysts pointed at the drop of crude oil prices as the most likely reason for the currency’s decline.

Canadian Dollar Firm on Positive Macroeconomic Data

The Canadian dollar performed fairly well today thanks to positive domestic macroeconomic data and rebounding crude oil prices. The currency fared far worse yesterday, falling after the monetary policy meeting of the Canadian central bank.

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