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Canadian Dollar Weakens on Falling Crude Prices, Mixed Data

The Canadian dollar is weakening against its American counterpart on Monday, driven by falling crude prices and mixed economic data. The loonie was looking to extend the momentum following last week’s upbeat jobs report, but it has since joined other commodity currencies in the decline.

Canadian Dollar Ends Week Lower on Risk Aversion, Falling Oil Prices

The Canadian dollar ended the week lower, joining other commodity currencies in decline. The main theme of the week was risk aversion on the Forex markets, which made safer currencies the strongest, while hurting riskier currencies related to raw materials and growth.

Canadian Dollar Rallies on Upbeat Canadian Jobs Data Amid Weak NFP Data

The Canadian dollar today rallied higher against its US counterpart following the release of upbeat Canadian jobs data, versus the disappointing US nonfarm payrolls data. The USD/CAD dropped to new weekly lows on the jobs data as well as the higher global crude oil prices, which also favored the loonie.

Canadian Dollar Weakens on Falling Oil Prices, Bearish BOC Warning

The Canadian dollar is tumbling on Thursday as the price of oil plunges and the Bank of Canada (BOC) issues another bearish warning about the national economy. The loonie has performed poorly against the greenback, sliding nearly 1% over the last week and 7% so far this year.

Canadian Dollar Tanks on Dovish BoC

The Canadian dollar sank today following the release of a surprisingly dovish policy statement from the Bank of Canada. The currency traded at the lowest level since September against most of its major rivals, while against the US dollar the loonie touched the lows not seen since June 2017.

Canadian Dollar Surges on Trade Truce, Higher Energy Prices

The Canadian dollar is surging against its American counterpart to start the trading week, supported by rallying energy prices and the temporary pause in trade hostilities between the world’s two largest economies. The loonie, which has retreated nearly 5% this year, is looking to finish the year strong.

Canadian Dollar Falls After GDP Miss, Reverses Losses Later

The Canadian dollar fell today after Canada’s GDP data turned out to be disappointing. The currency swiftly reversed its movement, though, trimming losses against some rivals, while erasing them outright against others. The loonie even managed to gain on the euro, which felt pressure from slowing eurozone inflation.

Canadian Dollar Pares Losses on Energy Prices, Account Deficit

The Canadian dollar is paring its earlier losses against its American counterpart on Thursday, buoyed by rallying energy prices and a smaller current account deficit. The loonie has weakened nearly 1% over the last trading week, mainly because of the bear market in international crude oil markets.

Canadian Dollar Flat Amid Bleak Economic Outlook, GM Closure

The Canadian dollar is trading relatively flat to start the trading week. Despite upward momentum in the Canadian economy, recent outlooks suggest that it is not as rosy as many think it is. Moreover, the currency was affected after General Motors announced that it was leaving Canada as the company was embarking upon an overall change to its structure. The loonie did find some momentum in higher crude prices.

USD/CAD Pair Drops Briefly on Upbeat Canadian Data, Quickly Recovers

The USD/CAD currency pair today briefly plunged lower after the release of positive Canadian inflation data, before quickly reversing higher. The currency pair managed to sustain its upward trend, which was in place from the start of today’s session, largely due to the depressed global oil prices.

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