Statistics Canada — News Archive


USD/CAD Rallies Higher on Mixed US Releases

The USD/CAD currency pair today rallied slightly higher as the Canadian dollar weakened against its US counterpart following mixed US macro releases. The loonie was largely weaker against the greenback despite slightly positive crude oil prices, which usually boost the currency.

USD/CAD Declines on US and Canadian Employment Reports

The USD/CAD currency pair today declined to new lows after the release of mixed employment reports from both the USA and Canada. The currency pair was on a downward trend from earlier in the session after President Donald Trump exempted Canada and Mexico from the new steel and aluminum tariffs.

USD/CAD Rallies on BoC Rate Decision amid Trade Tensions

The Canadian dollar today weakened against its US counterpart after the Bank of Canada left interest rates intact, which drove the USD/CAD currency pair to new highs. The Canadian dollar was also under intense selling pressure due to fears that a trade war with the USA would hurt the country’s economy as the US is a major export market.

Canadian Dollar Soft Ahead of Friday’s Employment Report

The Canadian dollar fell against basically all of its most-traded counterparts following the release of mixed macroeconomic data earlier today. Additionally, some market analysts explained the currency’s weakness by traders being cautious ahead of tomorrow’s jobs data.

Canadian Dollar Gets Support from Economic Data & Crude Oil

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.

Canadian Dollar Rallies Against US Dollar on Canada and US Data

The Canadian dollar today rallied massively against its US counterpart after Canada’s CPI print for November was recorded at the highest level since January. The loonie’s rally against the greenback was also boosted by the release of third quarter US GDP growth data, which missed expectations.

USD/CAD Struggles to Rally Higher Despite Positive US Data

The USD/CAD currency pair today retraced some of its earlier gains despite the release of positive US advance retail sales data. The currency pair remained in a slight uptrend boosted by a sharp decline in global crude oil prices as tracked by the West Texas Intermediate.

USD/CAD Rallies Higher on BoC’s Financial System Review

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.

Canadian Dollar Declines Against US Dollar on Weak Retail Sales

The Canadian dollar today declined against its US counterpart after the release of weak Canadian retail sales data in the early American session. The Canadian dollar was slightly stronger against the US dollar earlier in today’s session as the USD/CAD currency pair extended yesterday’s decline following the dovish FOMC minutes.

USD/CAD Recovers Lost Ground on Canadian Housing Price Index

The USD/CAD currency pair today recovered initially lost ground after the release of Canada’s housing price index data in the early American session. The pair had lost significant ground earlier in today’s session due to yield spread differentials that were much stronger than the impact of global oil prices on the loonie.