EUR/CAD — News Archive

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Canadian Dollar Slips As Manufacturing PMI Contracts, GDP Slows

The Canadian dollar is slipping against its currency rivals midweek as new data is beginning to highlight how much damage the coronavirus is impacting the Great White North. Manufacturing contracted, the economy already showed signs of slowing down before the COVID-19 crisis, and producer prices slumped – this could be the start of even more negative economic readings in the weeks to come.

Canadian Dollar Weakens As BoC Imposes Emergency Interest Rate Cut

The Canadian dollar is weakening against many currency rivals to finish out the trading week. Following a week of modest gains, the loonie is falling on the central bank announcing an emergency cut to interest rates as the economy gets battered by coronavirus outbreak and tumbling energy prices.

Canadian Dollar Crashes As Trudeau Shuts Down Border Over COVID-19

The Canadian dollar is crashing against most currency rivals on Monday after the federal government announced that it would shut down the border to non-Canadian citizens. Anyone who is showing symptoms of Covid-19 will not be permitted to enter the country. This was Prime Minister Justin Trudeau’s first major policy response to the virus outbreak, and he confirmed that more fiscal announcements will be coming this […]

Canadian Dollar Surges As BoC Announces Surprise 50-Basis-Point Cut

The Canadian dollar is rallying to close out the trading week after the Bank of Canada (BoC) announced a surprise 50-basis-point cut to interest rates. This comes one week after the central bank imposed a 0.5% reduction that mirrored the Federal Reserve’s recent emergency action. The BoC confirmed that it is not done, signaling that it is ready to do more if it is necessary.

Canadian Dollar Rallies on Chinese Stimulus, Higher Crude Prices

The Canadian dollar is rallying midweek on China’s latest announcements of fiscal and monetary stimulus to combat the negative economic effects of the Wuhan coronavirus, also officially known as Covid-19. The loonie also benefited from soaring crude oil prices on Wednesday, but gains were capped on warnings that the rail blockade by protesters will affect the national economy.

Canadian Dollar Mixed As Housing, Jobs Data Unable to Trigger Momentum

The Canadian dollar is trading mixed against multiple currency rivals to kick off the trading week, despite bullish housing and jobs data that should have buoyed the loonie. The paucity of momentum will be more pronounced as the Canadian dollar may trade sideways ahead of the central bank’s policy announcement later this week. Will the currency reverse its downward trend?

Canadian Dollar Slides As Coronavirus Fears Hurt Energy Prices

The Canadian dollar is weakening against most major currency rivals to finish the trading week, despite the national economy beating market forecasts in November. The loonie’s fall is being mostly driven by a drop in energy prices caused by demand concerns amid the Wuhan coronavirus. The nation’s fiscal picture and inflation also rose more than what the market had projected.

CAD Mixed on Amazing Employment Data, Falling Crude Oil

The Canadian dollar did not show a clear trend today, being under the influence of mixed fundamentals. Domestic employment data was surprisingly good but the drop of crude oil prices was weighing on the currency.

Loonie Extremely Weak on Negative Housing Data & Oil Prices

The Canadian dollar was among the weakest currencies today, dragged down by negative domestic housing data. Both housing starts and building permits fell unexpectedly. The falling prices for crude oil, Canada’s biggest export, were weighing on the currency as well.

Canadian Dollar Weakens on Falling Crude Prices, Disappointing Exports

The Canadian dollar is weakening against multiple currency rivals midweek as energy prices are hitting the loonie. President Donald Trump confirmed that Iran is “standing down” in the intense Middle East conflict, sending futures plunging. The loonie was also impacted by disappointing export data. Despite being one of the top-performing G20 currencies, the Canadian dollar has had a rough start to 2020.

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