CAD/JPY — News Archive

The Canadian dollar versus the Japanese yen currency pair managed to get even closer to the resistance line that dates back to the beginning of March 2019, and this brings even more possibilities for the bulls.

The Canadian dollar dropped today following the monetary policy decision made by the Bank of Canada. The drop was short-lived, though, and the loonie has erased losses versus most of its major peers by now. The currency even gained on the US dollar, which weakened due to the outlook for interest rate cuts from the Federal Reserve.

The Canadian dollar versus the Japanese yen currency pair came back above and confirmed the solid support area of 81.38, and thus fueled the bullish optimism. The question is where will the bulls mark their profits?

The Canadian dollar gained on its most-traded rivals today, gaining help from the positive domestic trade data, which showed an unexpected surplus, and rising prices for crude oil, Canada’s major export commodity.

The Canadian dollar logged gains today, though they were very mild. As many other currencies, the loonie traded not far from the opening level as traders were waiting for news about the trade talks between the Unite States and China. As for domestic news, Canada’s gross domestic product provided a positive surprise, and other macroeconomic indicators were also above expectations.

The Canadian dollar was mixed today, rising against some rivals while falling versus others. Factors that were driving the currency today were the outlook for the nation’s economic growth and movement of crude oil prices.

The Canadian dollar versus the Japanese yen currency pair gives the signs of a change in direction from a very important area.

The Canadian dollar declined against its most-traded rivals, being the weakest major currency today. One of the reasons for the currency’s awful performance was unexpectedly slow growth of Canadian retail sales.

The Canadian dollar was firm today after nation’s consumer inflation accelerated and beat analysts’ expectations. The rally of crude oil prices likely also helped the currency.

The Canadian dollar rallied today after the release of domestic employment data. The currency logged especially big gains versus its US counterpart as US jobs data was far worse than the Canadian one.