Canada — News Archive


USD/CAD Declines Drastically on US and Canada Data

The USD/CAD currency pair today suffered a major decline after the release of both US and Canadian macro data during the North American session. Some of the macro data released by both countries include Canada’s GDP data released by Statistics Canada and the US initial jobless claims report.

Canadian Dollar Rallies Against US Dollar on Janet Yellen Speech

The Canadian dollar today rallied higher against its US counterpart after Janet Yellen‘s speech at the Jackson Hole Symposium. The US dollar had earlier rallied from daily lows after the release of the durable goods orders report for the month of July.

Canadian Dollar Touches Highest Level in Three Weeks on Strong Retail Sales

The Canadian dollar rose against its US counterpart on Tuesday to touch the highest level in three weeks. The loonie also had broad gains against other major peers as Canadian core retail sales posted a strong increase in June, according to fresh data released today.

Canadian Dollar Climbs Against British Pound on Improved Inflation in July

The Canadian dollar surged against the British pound and the US dollar on Friday in the wake of a fresh reading for Canadian inflation, which showed that it had improved in July from a year earlier. The Canadian currency also rose against the US dollar and other major peers as investors became more optimistic that the Bank of Canada may increase its interest rates soon.

USD/CAD Tests New Lows After Release of Weak US CPI Data

The USD/CAD currency pair today tested new lows after the release of weak CPI data by the US Bureau of Labor Statistics. The weak crude oil prices in the global market could not allow the currency pair to drop much lower as the Canadian dollar is closely linked to global oil prices.

Canadian Dollar Declines Against US Dollar on Positive NFP

The Canadian dollar today declined against its US counterpart after the release of positive US non-farm payrolls data and a better than expected US trade deficit. Statistics Canada also reported that the country added more jobs than expected, but Canada’s trade deficit was higher than expected resulting in a weaker loonie.

USD/CAD Trims Gains as Traders Are Getting Ready for Friday’s Releases

The Canadian dollar trimmed losses versus its US counterpart as traders were getting ready for tomorrow’s employment data in the United States and Canada. The loonie was weak against other majors as crude oil dropped.

Canadian Dollar Rallies Against US Dollar on Positive GDP Data

The Canadian dollar today rallied against its US counterpart after the release of positive Canadian GDP growth data for the month of May by Statistics Canada. The US Bureau of Economic Analysis also released the US GDP growth estimate for the second quarter, which disappointed, causing the US dollar to weaken against the Canadian dollar.

USD/CAD Drops to Two-Year Low After Fed Statement

The Canadian dollar gained to the highest level in two years versus its US counterpart today after the Federal Reserve released a relatively dovish policy statement. The loonie also rallied against the weak Swiss franc but dropped versus the euro and Japanese yen.

Canadian Dollar Gains as Wholesale Sales Rise to Record

The Canadian dollar rose today thanks to the surprisingly good wholesale sales reading, which increased chances for monetary tightening from the Bank of Canada.