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Canadian Dollar Mixed As COVID-19 Kills One Million Jobs in March

The Canadian dollar is mixed on Friday as the federal government released the worst jobs report in the nation’s history. Due to the coronavirus pandemic shutting down the country from coast to coast, the economy shed more than one million jobs, significantly raising the unemployment rate in March. And this is just the beginning, experts warn.

Canadian Dollar Crashes Against US Peer on Falling Crude Oil Prices

The Canadian dollar today fell against its US peer as global crude oil prices fell to new lows as Saudi Arabia plans to up production as the oil price war heats up. The USD/CAD currency pair rallied to the 1.4400 high that was last seen in 2016 as demand for the greenback soared driven by the dominant risk-off market sentiment.

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.

Mexican Peso Weakens As USMCA Remains Incomplete

The Mexican peso is weakening against its major currency rivals at the end of the trading week, driven primarily by the delay in completing the new North American Free Trade Agreement, which is also known as the USMCA. But the peso’s declines were capped by strong retail sales data for September.

Canadian Dollar Falls on Disappointing Exports, Lower PMI

The Canadian dollar is falling against multiple major currency rivals midweek, caused by disappointing trade numbers and a lower purchasing managers’ index (PMI) reading. The loonie, which has been one of the best-performing currencies in international markets, continues to lose its momentum as the year winds down.

Canadian Dollar Crashes Against US Peer on BoC Rate Decision

The Canadian dollar today crashed against the US dollar after the Bank of Canada announced its interest rate decision, which was widely interpreted as being dovish. The USD/CAD extended its gains as the price of crude oil fell to new lows taking down the loonie given Canada’s reliance on oil exports as a source of foreign income.

Canadian Dollar Weakens Amid Falling Retail Sales, Trudeau Minority

The Canadian dollar is weakening against several major currency pairs on Tuesday as investors comb through the latest retail sales report. The loonie’s slide also comes after Prime Minister Justin Trudeau secured a minority government following the recent federal election. With the electoral contest out of the way, traders will keep a focus on a central bank that refused to budge on interest rates before the election.

Canadian Dollar Weakens As Jobs Momentum Fades

The Canadian dollar is slipping against several currency rivals on Monday, suggesting that the euphoria from last week’s better-than-expected jobs report may have dissipated to kick off the week forex markets. While the current labor market is one of the best Canada has ever had, the economy has returned to its anemic state. How much will the economy play in next week’s federal election?

Canadian Dollar Weakens on Data, Energy Prices

The Canadian dollar is weakening against several major currencies to start the trading week as the loonie is still reeling from bad data. The dollar faced additional pressure on tumbling energy prices and investors sounding the alarm about Canada’s perpetual budget deficit problem. The loonie may get a bit of reprieve from a light-data calendar.

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