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Canadian Dollar Continues to Receive Support from Skyrocketing Oil Prices

The Canadian dollar continued to rally against its major rivals today, demonstrating especially big gains against the weak US dollar, as the OPEC oil production cut propelled oil prices higher.

Canadian Dollar Follows Crude Oil to Upside, Rally in Danger

The Canadian dollar rallied against most of major peers on Monday, tracking the rise of crude oil prices. There is a decent probability, though, that the crude’s rally will fizzle soon, dragging the loonie down.

Canadian Dollar Firm After Inflation Data

The Canadian dollar today rose after the release of inflation data, even though some parts of the report were not that good. The loonie even managed to rebound versus the US dollar despite starting the trading session with a decline.

Loonie Falls vs. Greenback, Avoids Losses vs. Other Rivals

The Canadian dollar fell against its US peer on Monday as the shock of the surprise victory of Donald Trump in the US presidential elections continued to weigh on the currency. The loonie managed to gain on other most-traded rivals, like the euro and the Japanese yen.

Canadian Dollar Hurt by Oil Prices & Trump’s Victory

The Canadian dollar fell today, hurt by the drop of crude oil prices and concerns about the future of trading between the United States and Canada. The currency still managed to beat the very weak Japanese yen.

Canadian Dollar Strengthens as Markets Bet on Hillary’s Victory

The Canadian dollar gained on its major counterparts as market participants were speculating about the possible outcome of the US presidential elections. Economic data released from Canada over the trading session was not great, but it took the backseat to the US elections.

Canadian Dollar Opens Sharply Higher as Week Starts with Shock

The Canadian dollar opened sharply higher against its major rivals as the news from the United States shocked markets. The currency struggles to establish a clear trend, though, rising against some peers but falling below the opening against others.

Canadian Dollar Little Changed due to Economic Data & Oil Prices

The Canadian dollar was little changed-to-lower against most of its major rivals despite economic data from Canada released over the trading session that was good. The problem for the currency was a steep drop of crude oil prices.

Canadian Dollar Mostly Flat amid Battling Fundamentals

The Canadian dollar was mostly flat against its major rivals (though not versus the Japanese yen) as good and bad fundamentals battled for the right to determine the direction for the currency to move.

Canadian Dollar Under Pressure During Wednesday’s Trading

The Canadian dollar was under pressure during the Wednesday’s trading session as falling oil prices and concerns about potential monetary easing from the Bank of Canada made the currency not particularly attractive.

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