The Canadian dollar is rallying to kick off the trading week, buoyed by growing optimism among the business community. The loonie was lifted even more on increasing odds that the central bank will raise interest rates at least one more time before the year is over.
The Canadian dollar is trading lower against its US and European counterparts midweek. The loonie has been tumbling on lower crude oil prices and rising US bond yields that analysts fear could impact global growth. It appears that striking a new trilateral trade deal with the US and Mexico only provided short-term relief for the currency.
The Canadian dollar declined against its major peers today, dragged down by a range of factors. Among them were the relatively strong US dollar, falling prices for crude oil, and poor macroeconomic data.
The Canadian dollar is trading lower on Tuesday in the aftermath of the historic trilateral trade deal between Canada, the US, and Mexico. The loonie could not sustain the momentum, especially as energy futures tumbled. The buck may now find short-term direction in this week’s September jobs report and August trade data.
The Canadian dollar weakened to its lowest level in a week as traders are doubtful that Ottawa can reach a new trade deal with the US. Trade negotiations hit a roadblock midweek after President Donald Trump weighed in on the talks and revealed he rejected a meeting with Prime Minister Justin Trudeau. The escalating trade tensions could lead to Canada sitting on the sidelines of a US-Mexico bilateral agreement.
The Canadian dollar started on Friday holding a three-month high as inflation data boosted odds of the central bank raising interest rates. Those gains were later pared after a White House official stated that the US is “very, very close” to moving ahead on a trade deal without Canada, suggesting that the U.S. and Mexico will embark upon a bilateral agreement instead of a trilateral one.
The Canadian dollar is trading higher on Thursday on higher energy prices and renewed North American Free Trade Agreement (NAFTA) negotiations between Canadian and US officials. With NAFTA talks at a standstill, the loonie has been finding support from rallying crude oil, allowing the currency to near a three-week high.
The Canadian dollar, which enjoyed its biggest weekly gain since April last week, is posting modest gains on Monday as investors are bracing for a week of tense North American Free Trade Agreement (NAFTA) talks. Officials are being pressed to reach a deal, especially with Mexico’s president-elect about to take office and the US holding midterm elections in November. Traders feel that the added pressure might lead to a conclusion, […]
The Canadian dollar weakened on Friday, but the loonie is still on track for its biggest weekly gain in about five months. The currency recorded gains on surging oil prices, but they were capped on reports that the US and Mexico might exclude Canada from a trade deal, especially with the month-end deadline on the horizon.
The Canadian dollar is trading at its best level in two weeks against its US counterpart on Thursday. The loonie is rallying on reports that progress is being made in North American Free Trade Agreement (NAFTA) negotiations. This news, which is bullish for the Canadian economy, allowed the loonie to dismiss lower energy prices and recent negative economic data. Mexican officials confirmed that an agreement with the US could […]
