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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.

Canadian Dollar Pares Gain on Weaker Energy, Capped by Strong Manufacturing

The Canadian dollar pared its weekly gain to close out the trading week, driven primarily by slumping energy prices. But the loonie’s drop was capped by better-than-expected manufacturing data. Still, the Canadian dollar is poised for a significant 1% weekly advance against the US dollar as the currency continues its rebound following an abysmal first half of 2020.

Canadian Dollar Mixed Amid Higher-Than-Expected Inflation, Strong Retail Sales

The Canadian dollar is trading mixed against its most traded currency rivals midweek. The loonie has been gaining on the greenback on Wednesday as higher-than-expected inflation and strong retail sales data were in the backdrop of the Canadian dollar’s ascent. But falling energy prices capped the currency’s modest rally.

Canadian Dollar Fails to Garner Momentum on Stellar Jobs Report, Rising Energy Prices

The Canadian dollar is failing to garner momentum at the end of the trading week, despite a stellar jobs report and rising energy prices. The loonie has rebounded substantially since the market meltdown in March, driven primarily by greater confidence in global financial markets and rallying crude oil prices. Analysts are optimistic of a strong second half for the Canadian dollar, so could it happen?

Canadian Dollar Flat As Oil Slumps, Manufacturing Rebounds

The Canadian dollar is trading flat against its G10 currency rivals at the end of the holiday-shortened trading week. The loonie has been gaining against several of its counterparts over the last week, despite an influx of disappointing economic data. With energy prices firmly rebounding and the investors selling the US dollar, could the Canadian dollar have a strong second half?

Canadian Dollar Mixed As BoC Warns of ‘Prolonged and Bumpy’ Recovery

The Canadian dollar is trading mixed on Tuesday after the central bank warned that the economy faces a “prolonged and bumpy” recovery that might require additional fiscal and monetary stimulus tools. The loonie is finding support in rallying crude oil prices that have enjoyed multi-month highs after sliding below zero in April.

Canadian Dollar Soft Despite Rally of Crude Oil

The Canadian dollar was trading in the red for the most part today. The loonie was flat against the Japanese yen and gained on the Australian dollar but dropped versus the rest of the most-traded currencies. This is surprising considering the strong rally of crude oil, Canada’s major export commodity.

Canadian Dollar Continues April Comeback As Crude Rally Lifts Loonie

The Canadian dollar is staging its late-April comeback against several of its G10 currency rivals. The loonie, which has been battered throughout much of the year, continued its rally midweek as the double-digit gains in crude oil prices lifted the currency. Could the Canadian dollar continue its upward trend next month?

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