EUR/CAD — News Archive

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Canadian Dollar Ends Week Strongest amid Interest Rate Hike Speculations

The Forex market was largely driven by central banks’ meeting during the past trading week. Yet the Canadian dollar had its own bullish factor that allowed it to ignore other news for the most part and to become the strongest major currency by the weekend (though other commodity currencies were strong as well).

Loonie Drops vs. Greenback, Gains on Other Rivals

The Canadian dollar fell against its US counterpart today due to the hawkish stance of the Federal Reserve and positive US macroeconomic data. The loonie fared far better against other most-traded currencies.

Canadian Dollar Rallies Against US Dollar on Positive Jobs Report

The Canadian dollar today gained significantly against the US dollar after the release of Canada’s labor market report by Statistics Canada, which exceeded expectations. The loonie rallied against the greenback despite the fact that the greenback was performing quite well as tracked by the US Dollar Index.

Euro Loses Ground Against the US Dollar on Dovish ECB and UK Election Results

The euro today lost significant ground against the US dollar to test new lows for the third day in a row after yesterday’s dovish outlook from the European Central Bank. The currency pair’s decline was also caused by the stronger US dollar after yesterday’s UK general election, which resulted in a hung parliament, as no party won a majority.

Canadian Dollar Finds No Relief in Robust Growth of GDP

Canada’s gross domestic product grew in March more than was expected. Yet that brought no relief to the Canadian dollar as the currency dropped today, dragged down by the slump of crude oil prices.

Canadian Dollar Suffers from Domestic Data & Crude Oil Prices

The Canadian dollar dropped against its most-traded rivals during the current trading session, driven down by unfavorable domestic macroeconomic data and the decline of crude oil prices.

CAD Gains on USD, Other Majors as Oil Prices Stabilize

The Canadian dollar rallied against its major peers (including the US dollar, which itself was strong) during the current trading session after prices for crude oil stabilized following the initial sell-off. With that said, the loonie failed to beat the very firm Japanese yen.

Canadian Dollar Jumps as BoC Statement Doesn’t Show Dovishness

The Canadian dollar jumped following the monetary policy meeting of the Bank of Canada as the central bank’s statement turned out to be not as dovish as market participants were expecting.

Canadian Dollar Trades Without Direction After Mixed Data

The Canadian dollar traded without clear trend during the current trading session, which made sense considering Canada’s macroeconomic data released today was mixed as well, giving the currency no reason to move in a particular direction.

Canadian Dollar Ignores Positive Fundamentals amid Risk Aversion

The Canadian dollar fell today even though macroeconomic data released in Canada was good and crude oil continued to rally. The likely reasons for the underwhelming performance was risk aversion that took a firm grip on markets.

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