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.
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.
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.
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.
The Canadian dollar today rallied against its US peer after the release of employment reports from both countries with Canada’s beating analysts expectations. The USD/CAD currency pair fell to multi-year lows last seen in October 2018 as the loonie rallied against the weak greenback during the American session.
The Japanese yen fell versus commodity currencies but managed to hold its ground against other most-traded currencies today. Markets remained under the impact of the positive coronavirus vaccine news, which limited demand for safer currencies, including the yen.
The Canadian dollar today rallied against its US peer boosted by the global crude oil prices kept rising and were on track to close higher for the week. The USD/CAD currency pair fell for the third consecutive session as the loonie rallied following the release of upbeat Canadian retail sales data for September.
The Canadian dollar today rallied against its US peer as the US Presidential election continued to weigh on the greenback overshadowing the positive jobs data. The USD/CAD currency pair today fell to new 10-week lows as the loonie got an edge against the greenback as Joe Biden secured a significant lead over incumbent President Donald Trump.
The Bank of Japan was about flat against major rivals and fell versus commodity currencies today. Better-then-expected domestic manufacturing data was unable to help the currency. Now, traders wait for minutes of the latest monetary policy meeting of the nation’s central bank.
The Japanese yen rallied during Friday’s trading session. Market analysts explained the rally by risk aversion ahead of the US presidential election as well as by mostly positive macroeconomic reports released in Japan over the trading session. Currently, though, the currency has trimmed its gains, losing them outright against some of its rivals.
