OPEC — News Archive

    Archives

Canadian Dollar Falls on US Equities Rally, Later Rises With Oil Prices

The Canadian dollar today lost ground against the US dollar amid investor optimism about the unprecedented V-shaped stock market recovery going on in the US. The USD/CAD pair rallied higher as traders remained sceptical that the oil output cuts extended by the OPEC cartel and its allies would stabilise oil prices.

Japanese Yen Soars As Investors Flee to Safe-Haven Assets

The Japanese yen is soaring against multiple currency rivals to kick off the trading week as investors are fleeing to traditional safe-haven assets amid the market crash. With the major leading stock indexes worldwide posting steep losses, traders are buying the yen, despite the disappointing economic data. Will the yen be the best performing currency in the first quarter?

Canadian Dollar Gains on Upbeat Jobs Report, Falls on Russian Oil News

The Canadian dollar today posted gains against the US dollar after the release of upbeat Canadian employment data in the early American session. The USD/CAD currency pair alternated between gains and losses, given that both the loonie and the greenback were weak overall.

Canadian Dollar Falls on Weak Oil Prices, Spikes On In-Line GDP Data

The Canadian dollar today extended its losses against the US dollar for the third consecutive day as global crude oil prices fell to lows last seen in December 2018. The Commodity-linked loonie’s performance was boosted slightly by the Canadian GDP data, but the risk-off market sentiment created by the Chinese coronavirus headlines hindered its rally.

Canadian Dollar Falls on Weak Oil Prices, Despite Upbeat Jobs Report

The Canadian dollar today fell against the US dollar following the release of mixed Canadian jobs data and the upbeat US non-farm payrolls report. The USD/CAD currency pair’s rally was also fueled by the decline in global crude oil prices, which dragged the commodity-linked loonie lower.

Canadian Dollar Falls Against US Peer on Weak Crude Oil Prices

The Canadian dollar today broke down against the US dollar as global crude oil prices fell following the absence of more output cuts by the OPEC and its allies at today’s meeting. The USD/CAD rallied higher during the American session as oil prices fell causing the commodity-linked loonie to weaken against the greenback.

Canadian Dollar Strengthens on Rallying Energy Prices

The Canadian dollar is strengthening to a one-week high against its American counterpart midweek on rallying energy prices and slowing US inflation. The bearish domestic outlook is lingering in the background as investors fear that, despite the impressive February jobs report, the national economy is barely expanding, even with the pause on interest rate hikes.

Canadian Dollar Follows Crude Oil in Decline

While most riskier commodity-geared currencies were rallying today, the Canadian dollar declined. With absence of other apparent reasons, market analysts pointed at the drop of crude oil prices as the most likely reason for the currency’s decline.

Canadian Dollar Weakens on Sliding Crude Prices, Sluggish Growth

The Canadian dollar is losing ground against its major currency rivals to kick off the trading week. The loonie is falling on sliding crude oil prices, bearish economic data, and a dovish Bank of Canada (BOC) that is unlikely to raise interest rates for another few months.

Canadian Dollar Rises on Oil Prices, Manufacturing Data

The Canadian dollar is posting modest gains at the end of the trading week, buoyed by higher energy prices and positive manufacturing data. Amid cratering crude prices, the loonie has struggled to find direction, mainly because traders are waiting to see what the Organization for Petroleum Exporting Countries (OPEC) will do relating to output.

Navigation

Menu