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Canadian Dollar Rallies Against US Dollar on Poor NFP Data

The Canadian dollar today rallied against its US counterpart triggered by the disappointing US non-farm payroll data released by the Bureau of Labor Statistics. The positive Canadian labor productivity data and the trade deficit figures released by Statistics Canada boosted the Loonie against the greenback.

Canadian Dollar Finds No Relief in Robust Growth of GDP

Canada’s gross domestic product grew in March more than was expected. Yet that brought no relief to the Canadian dollar as the currency dropped today, dragged down by the slump of crude oil prices.

Canadian Dollar Suffers from Domestic Data & Crude Oil Prices

The Canadian dollar dropped against its most-traded rivals during the current trading session, driven down by unfavorable domestic macroeconomic data and the decline of crude oil prices.

CAD Gains on USD, Other Majors as Oil Prices Stabilize

The Canadian dollar rallied against its major peers (including the US dollar, which itself was strong) during the current trading session after prices for crude oil stabilized following the initial sell-off. With that said, the loonie failed to beat the very firm Japanese yen.

Canadian Dollar Jumps as BoC Statement Doesn’t Show Dovishness

The Canadian dollar jumped following the monetary policy meeting of the Bank of Canada as the central bank’s statement turned out to be not as dovish as market participants were expecting.

Canadian Dollar Trades Without Direction After Mixed Data

The Canadian dollar traded without clear trend during the current trading session, which made sense considering Canada’s macroeconomic data released today was mixed as well, giving the currency no reason to move in a particular direction.

Canadian Dollar Ignores Positive Fundamentals amid Risk Aversion

The Canadian dollar fell today even though macroeconomic data released in Canada was good and crude oil continued to rally. The likely reasons for the underwhelming performance was risk aversion that took a firm grip on markets.

Canadian Dollar Follows Crude Oil, Moving Higher

The Canadian dollar followed the move of crude oil to the upside, logging gains during the current trading session. By now, the currency has pared the rally against some of its rivals, but maintained gains against others.

Loonie Weakens After Moody’s Downgrades Canada’s Banks

The Canadian dollar traded lower against its major counterparts today as the credit rating downgrade of six Canadian banks by Moody’s Investors Service damaged the attractiveness of the currency to investors.

Canadian Dollar Strengthens Against US Peer as Crude Inventories Fall

The Canadian dollar strengthened against the US dollar and the British pound on Wednesday, as oil prices climbed after a decline in US inventories improved the outlook for global supply. Traders’ concerns about trade relations between the United States and its northern neighbor eased today, which further supported the loonie.

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