EUR/CAD — News Archive

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Rising Oil Prices Help Canadian Dollar Ignore Unfavorable Data

The Canadian dollar was generally firm today despite unfavorable domestic macroeconomic data. The likely reason for the loonie’s good performance was the sharp rally of prices for crude oil, Canada’s major source of export revenue.

Canadian Dollar Rallies After Good Jobs Data

The Canadian dollar rallied today after the release of domestic employment data. The currency logged especially big gains versus its US counterpart as US jobs data was far worse than the Canadian one.

Risk Aversion, Falling Crude Oil Prices Overshadow Canada’s Data, CAD Drops

Macroeconomic data released in Canada today was very good, but it did not prevent the Canadian dollar from falling. Risk aversion caused by trade wars and falling prices for crude oil, Canada’s major export, were responsible for the currency’s lackluster performance.

Positive Fundamentals Help Loonie to Rally Despite Huge Drop of Oil Prices

The Canadian dollar gained on Thursday, though trimmed its gains by the end of the trading session. The currency managed to rally even as crude oil posted huge losses, falling more than 4% over the course of Thursday’s trading. There were several possible fundamental reasons for the good performance of the Canadian currency.

CAD Drops After BoC Monetary Policy Meeting, Crude Oil Likely to Blame

The Canadian dollar was largely soft today, though it has managed to trim its losses by now, even gaining on the euro. The decline of crude oil prices is likely to blame for the poor performance of the currency as domestic news did not bring anything particularly bad.

Canadian Dollar Weakens as US-China Trade War Overshadows Upbeat Data

The Canadian dollar is weakening against several major currency rivals as investor fears over the escalation in the US-China trade war overshadowed upbeat economic data. Despite the disappointing performance midway through the second quarter, the loonie is still in positive territory on the year.

Loonie Dips Intraday on Inflation Data, Recovers to Settle Higher

The Canadian dollar declined intraday as some of Canada’s inflation indicators missed expectations. But the currency rebounded later, ending the Wednesday’s trading session above the opening level.

Canadian Dollar Jumps on Stellar Employment Data

The Canadian dollar climbed on Friday after employment data demonstrated a shockingly good result for April. The disappointing housing report had hardly any impact on the currency.

Canadian Dollar Slides on Mixed Data

The Canadian dollar is trading lower against a basket of currencies on Thursday as an influx of mixed data is driving the loonie’s short-term performance towards the end of the trading week. The slumping economy is not giving consumers a ton of confidence, suggesting that they may not be as adamant to consume.

Canadian Dollar Plunges As BOC Abandons Bias for Future Rate Hikes

The Canadian dollar is sliding midweek after the central bank removed its bias about future increases to interest rates as the economic slowdown intensifies. This has left the market betting that there will not be a rate hike until at least sometime next year. While it did pledge to adapt monetary policy to incoming data, it does not anticipate substantial growth anytime soon.

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