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Canadian Dollar Weakens on Data, Energy Prices

The Canadian dollar is weakening against several major currencies to start the trading week as the loonie is still reeling from bad data. The dollar faced additional pressure on tumbling energy prices and investors sounding the alarm about Canada’s perpetual budget deficit problem. The loonie may get a bit of reprieve from a light-data calendar.

Canadian Dollar Soft, Ignores Sharp Rise of Crude Oil Prices

The Canadian dollar fell against most of its major peers on Wednesday, with the exception of the US dollar. That was surprising, considering that fundamentals did not look particularly bad for the currency.

Canadian Dollar Weakens on Bearish Forecasts

The Canadian dollar is weakening to start the trading week, driven by multiple bearish forecasts that suggest the loonie will crumble to multi-year lows. The buck’s losses were capped by rallying energy prices as crude oil prices have surged more than 5% in the last week.

Canadian Dollar Strengthens on Rallying Energy Prices

The Canadian dollar is strengthening to a one-week high against its American counterpart midweek on rallying energy prices and slowing US inflation. The bearish domestic outlook is lingering in the background as investors fear that, despite the impressive February jobs report, the national economy is barely expanding, even with the pause on interest rate hikes.

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 Gains on Upbeat Jobs Data and Mixed US NFP

The Canadian dollar today rallied against its US counterpart for the first time this week following the release of upbeat Canadian jobs data in the early American session. The USD/CAD currency pair  today broke its 6-day rally streak as the loonie gained against the greenback boosted by the mixed NFP report.

Canadian Dollar Falls After Dovish BoC Rate Decision and Statement

The Canadian dollar today fell drastically against its US counterpart following the Bank of Canada‘s dovish interest rate decision. The USD/CAD currency pair today rallied to new 2-month highs following the BoC’s cautious statement in the early North American session.

Canadian Dollar Weakens to Five-Week Low Ahead of BOC Decision

The Canadian dollar weakened to its lowest level against its American counterpart in five weeks. The multi-week low comes ahead of the central bank announcing its intentions on interest rates, and the world’s second-largest economy potentially striking a blow to the slowing Canadian economy. The loonie was lifted by a modest bump in energy prices.

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 Weakens on Q4 Slowdown, Current Account Gap

The Canadian dollar tumbled against some of its major rivals to kick off the new month on Friday. The loonie fell on reports that economic growth slowed in the fourth quarter, and new data that found the nation’s current account deficit widened during the October-to-December period. The buck has had a rough start to 2019, and many analysts anticipate the pain to continue.

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