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Canadian Dollar Rallies on Higher Oil Prices and Weak US Jobs Data

The Canadian dollar today rallied against its US counterpart as oil prices pressed higher for the third consecutive session boosting the commodity-linked loonie. The USD/CAD currency pair fell from its intra-day highs as the loonie strengthened amid rumours that OPEC and its allies would agree to drastic oil supply cuts to boost oil prices.

Could GBP/CAD Retest the 1.7811 Resistance?

The Great Britain pound versus the Canadian dollar currency pair may establish above the 1.7500 mark. Is this a bullish profile, or are the bears waiting for even better prices?

Canadian Dollar Slips As Manufacturing PMI Contracts, GDP Slows

The Canadian dollar is slipping against its currency rivals midweek as new data is beginning to highlight how much damage the coronavirus is impacting the Great White North. Manufacturing contracted, the economy already showed signs of slowing down before the COVID-19 crisis, and producer prices slumped – this could be the start of even more negative economic readings in the weeks to come.

Canadian Dollar Weakens As BoC Imposes Emergency Interest Rate Cut

The Canadian dollar is weakening against many currency rivals to finish out the trading week. Following a week of modest gains, the loonie is falling on the central bank announcing an emergency cut to interest rates as the economy gets battered by coronavirus outbreak and tumbling energy prices.

GBP/CAD May Target 1.7160

The Great Britain pound versus the Canadian dollar currency pair managed to appreciate from 1.6620. Would the pair be able to sustain the gains?

Loonie Falls Against US Peer on Weak Oil Prices Despite Fed News Spike

The Canadian dollar today spiked higher against the US dollar after the Federal Reserve announced massive quantitative easing measures causing the greenback to fall. The USD/CAD currency pair fell briefly before recouping its losses and heading higher as the dollar recovered and the Loonie was weighed down by weak crude oil prices.

Canadian Dollar Crashes Against US Peer on Falling Crude Oil Prices

The Canadian dollar today fell against its US peer as global crude oil prices fell to new lows as Saudi Arabia plans to up production as the oil price war heats up. The USD/CAD currency pair rallied to the 1.4400 high that was last seen in 2016 as demand for the greenback soared driven by the dominant risk-off market sentiment.

Support of 1.6986 Still Holds on GBP/CAD

The Great Britain pound versus the Canadian dollar currency pair respects some very important lines. But which are the new perspectives concerning the old lines?

Canadian Dollar Crashes As Trudeau Shuts Down Border Over COVID-19

The Canadian dollar is crashing against most currency rivals on Monday after the federal government announced that it would shut down the border to non-Canadian citizens. Anyone who is showing symptoms of Covid-19 will not be permitted to enter the country. This was Prime Minister Justin Trudeau’s first major policy response to the virus outbreak, and he confirmed that more fiscal announcements will be coming this […]

Canadian Dollar Surges As BoC Announces Surprise 50-Basis-Point Cut

The Canadian dollar is rallying to close out the trading week after the Bank of Canada (BoC) announced a surprise 50-basis-point cut to interest rates. This comes one week after the central bank imposed a 0.5% reduction that mirrored the Federal Reserve’s recent emergency action. The BoC confirmed that it is not done, signaling that it is ready to do more if it is necessary.

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