The Canadian dollar is sliding against major currency rivals to start the trading week. The loonie’s performance on Monday is being driven primarily by the decline in foreign acquisitions of Canadian investments. Aside from that, there is very little news and economic data coming out of Ottawa, prompting traders to rely on the status quo of the Canadian economy, which is bearish.
The Canadian dollar is weakening against a basket of currencies midweek as the price of US crude oil cratered as much as 5%. With oil officially sliding into a bear market, the loonie is paring a portion of its year-to-date gains. As economic data continues to be mixed, it might be a difficult second half for the currency.
The US dollar is mixed at the end of the trading week as a new lower-than-expected July jobs report highlighted how robust the national economy is as a diverse array of industries enjoyed gains and more people entered the workforce. But the greenback contended with renewed trade tensions between the US and China, which sent leading stock indexes into negative territory in the early part of the trading session.
The Canadian dollar was mixed today, unsure where to go amid opposing fundamentals. While domestic macroeconomic data was very detrimental to Canada’s currency, rising prices for crude oil was a supportive factor for the loonie.
The Canadian dollar was performing extremely poor today. While the loonie has managed to erase intraday losses versus the US dollar by now, the Canadian currency remained below the opening level against other most-traded rivals. The most likely reason for the drop was the decline of crude oil prices. Positive Canadian employment data did little to help the currency.
The Canadian dollar is mixed against a basket of currencies on Tuesday as investors sift through new motor vehicle sales data and foreign securities purchases for May. The loonie was sent lower on crashing energy prices, which is bad news for a resource-rich market. Traders will now wait for June inflation numbers that are expected to be lower than in May.
The Canadian dollar gained on its most-traded rivals today, gaining help from the positive domestic trade data, which showed an unexpected surplus, and rising prices for crude oil, Canada’s major export commodity.
The Canadian dollar is trading mixed against several major currency rivals on the Canada Day holiday. The loonie is benefiting from the rally in crude oil prices, but its advancements might be capped as the market forecasts a slip in manufacturing numbers ahead of crucial jobs and trade data later this week.
The Canadian dollar logged gains today, though they were very mild. As many other currencies, the loonie traded not far from the opening level as traders were waiting for news about the trade talks between the Unite States and China. As for domestic news, Canada’s gross domestic product provided a positive surprise, and other macroeconomic indicators were also above expectations.
The Canadian dollar is strengthening midweek as wholesalers recorded their fastest two-month gain in about four years and crude oil prices continued their bullish ways. The loonie’s gains were capped on the accelerating diplomatic and economic fallout between Canada and China.
