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Canadian Dollar Strengthens on Q3 GDP, Manufacturing PMI Growth

The Canadian dollar is strengthening against its US counterpart on Tuesday, buoyed by third-quarter economic growth and rebounding manufacturing activity. But the loonie’s rally was capped by sliding crude oil prices amid uncertainty over the Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, regarding output in 2021.

Canadian Dollar Strengthens as US Crude Tops $45, Biden Transition Formally Approved

The Canadian dollar is strengthening against its US peer on Tuesday as crude oil prices rallied to above $45. The loonie has surged by more than 1% this month, making the currency on track to erase its 2020 loss after stabilizing in the second half of the year. With soaring energy prices and a national economy recovering in the aftermath of the coronavirus pandemic, is the Canadian dollar setting itself up as the next top currency in 2021?

Russian Ruble Flat As October GDP, Retail Sales Disappoint

The Russian ruble is trading relatively flat against several currency peers to close out the trading week. The ruble has witnessed a resurgence this week as foreign exchange traders poured into the currency amid a significant rally in Brent crude oil prices. But the gains may have been capped by disappointing economic data. With tighter lockdown restrictions in Europe, could the ruble come under pressure in the home stretch of 2020?

Canadian Dollar Strengthens Despite Higher-Than-Expected Inflation

The Canadian dollar is strengthening against its US currency peer on Wednesday, despite price inflation coming in higher than the market forecast. Although the loonie has fallen against the greenback this year, the Canadian dollar has been making gains in recent months, allowing the currency to stabilize after enormous volatility in the first half of 2020.

CAD Surges on Sharp Oil Prices Rebound, Strong Manufacturing PMI

The Canadian dollar was the strongest currency on the Forex market on Monday. The reason for the currency’s impressive performance was primarily the sharp bounce of crude oil prices, though Canada’s macroeconomic data was also supportive of the loonie.

Canadian Dollar Flat As Investors Weigh August GDP, Crashing Oil Prices

The Canadian dollar is struggling for direction against a plethora of currencies at the end of the trading week as investors balance a slightly better-than-expected gross domestic product (GDP) in August and cratering crude oil prices. The loonie was impacted earlier this week after the central bank forecast that a recovery would not occur until 2022.

Canadian Dollar Slides As BoC Leaves Rates Unchanged, Crude Oil Crashes

The Canadian dollar is sliding against its US peer on Wednesday as the Bank of Canada (BoC) left interest rates unchanged during its November policy meeting. The loonie was also falling on plummeting crude oil prices amid escalating COVID-19 cases around the world that traders bet would continue to weigh on global demand. With Canada witnessing a second wave of the highly infectious respiratory illness, will the economic recovery […]

Canadian Dollar Rises as GDP Continues to Grow, Oil Prices Rise

Commodity currencies were the clear winners today, and the Canadian dollar was among them. It was trading on par with its Australian and New Zealand counterparts but gained against major rivals. Market analysts speculated that such behavior was a result of month-end flows, which drove the US dollar down, though the Canadian currency has its own factors to support it.

Canadian Dollar Soft After Retail Sales Miss Expectations

The Canadian dollar was soft today, falling against other most-traded currencies, after domestic retail sales data disappointed traders. The losses were limited against most of the rivals, though, with the exception of the Japanese yen and the New Zealand dollar — the two strongest currencies on the Forex market during Friday’s trading.

Canadian Dollar Soft Despite Surge in Crude Oil Prices

The Canadian dollar was soft today, falling or staying flat against its most-traded peers. Even the strong rally of crude oil prices was unable to aid the currency. One of the possible reasons for the loonie’s weakness was disappointing domestic inflation data.

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