The Canadian dollar today dropped significantly against the US dollar as the risk-off sentiment in the markets drove the USD/CAD currency pair to new highs. The loonie’s slide against the greenback was further accelerated by the tariffs imposed by President Donald Trump‘s administration against Canadian imports.
The USD/CAD currency pair today rallied higher after the release of the Canadian employment report for May, which missed expectations by a huge margin. The currency pair later retraced most of its gains as the markets digested the positive aspects of the report, while trade concerns limited the currency pair’s upside.
The Canadian dollar fell today amid the threat of trade wars and concerns about lack of progress in NAFTA talks. The big rally of crude oil prices was unable to help the currency.
The Canadian dollar fell against its major rivals on Tuesday amid concerns about trade wars between the United States and their allies, Canada being one of them. The drop of crude oil added to the currency’s woes.
The Canadian dollar today crashed to new lows against the US dollar following the release of disappointing Canadian Q1 GDP data in the early American session. The loonie’s fall triggered a rally in the USD/CAD currency pair as investors dumped the commodity-linked loonie in favor of the greenback.
The Canadian dollar today rallied against its US counterpart driving the USD/CAD currency pair to new lows after the Bank of Canada announced its interest rate decision. The loonie’s rally was further boosted by disappointing releases from the US docket such as the weak quarterly GDP data.
The Canadian dollar today dropped significantly against the US dollar following the release of disappointing Canadian CPI data in the early American session. The loonie’s losses were further compounded by the stronger US dollar, which was boosted by rising US Treasury yields.
The Canadian dollar today registered a significant loss against its American counterpart following the release of Canada’s April employment report in the early North American session. The loonie was stronger against the greenback in the Asian to mid-European sessions backed by the weakening US dollar following yesterday’s mixed US CPI report.
The Canadian dollar traded mixed-to-lower today. With lack of any macroeconomic releases during the Monday’s trading session, traders turned their attention towards future releases. The rally of crude oil prices had limited impact on the currency.
The Canadian dollar was mixed today, rising against some currencies and falling versus others. The possible reason for that were clashing fundamentals, which did not provide a clear direction to the loonie.
