Crude Oil — News Archive

The Canadian dollar gained on its major rivals today, propelled by positive macroeconomic data and gains of crude oil prices.

The Canadian dollar was flat versus the US dollar and the Japanese yen and fell against the euro and the Swiss franc even though fundamentals should have supported the currency.

The Canadian dollar gained against its US counterpart today, reaching the highest level since February. The currency trimmed its gains by now, though, and fell versus other most-traded peers.

The Canadian dollar surged more than 1% against its most-traded counterparts today after the Bank of Canada chief demonstrated hawkish bias, adding to speculations that the central bank may consider an interest rate hike in the not-so-distant future.

The Canadian dollar was mixed today, rising versus the US dollar and the Japanese yen, but falling against the euro and the Swiss franc.

The Norwegian krone rose against the US dollar today after the nation’s central bank basically ruled out the possibility of an interest rate cut. The gains of crude oil also helped the currency.

The Japanese yen rose against other most-traded currencies as the drop of crude oil weighed on inflation in developed economies.

The Canadian dollar fell during the Tuesday’s trading session, tracking the decline of crude oil prices. Positive domestic macroeconomic data was unable to help Canada’s currency.

The Canadian dollar fell against its US counterpart today due to the hawkish stance of the Federal Reserve and positive US macroeconomic data. The loonie fared far better against other most-traded currencies.

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.