The Canadian dollar logged gains today, though they were very mild. As many other currencies, the loonie traded not far from the opening level as traders were waiting for news about the trade talks between the Unite States and China. As for domestic news, Canada’s gross domestic product provided a positive surprise, and other macroeconomic indicators were also above expectations.
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.
The Canadian dollar rose against its US counterpart today due to the mixed US nonfarm payrolls. The loonie gained on other most-traded rivals as well, most likely thanks to the strong rally of crude oil prices. Domestic macroeconomic data did not help the currency, being rather underwhelming.
The Canadian dollar fell today after Canada’s GDP data turned out to be disappointing. The currency swiftly reversed its movement, though, trimming losses against some rivals, while erasing them outright against others. The loonie even managed to gain on the euro, which felt pressure from slowing eurozone inflation.
The Canadian dollar failed to gain today despite better-than-expected growth of Canada’s economy. The possible reasons for the weakness were: the strength of the US dollar, the decline of crude oil prices, and other macroeconomic indicators, some of which were not that good.
The Canadian dollar rallied today, reversing its earlier losses. The currency got a boost from Canada’s solid economic growth.
The Canadian dollar ended Friday’s trading extremely strong thanks to the positive domestic macroeconomic data, rising crude oil prices, and the general positive market sentiment.
The Canadian dollar rallied against its most-traded peers today (with the exception of the rather strong euro) as Statistics Canada released a very positive macroeconomic report. The rally of crude oil also contributed the currency’s gains.
The USD/CAD currency pair today rallied higher after the release of the Bank of Canada’s Financial System Review. The currency pair was on an uptrend for most of today’s session mainly boosted by the negative sentiment around global oil prices given that the Canadian dollar is a commodity-linked currency.
The Canadian dollar today declined against its US counterpart after the release of Canada’s GDP data for August causing the USD/CAD currency pair to hit new highs. Other releases from the US docket such as the consumer confidence index for October, which beat expectations, served to boost the US dollar against its Canadian peer.
