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Canadian Dollar Weakens on Oil Crash, Poor Data

The Canadian dollar is kicking off the trading week falling against its major currency rivals. The loonie is getting battered on cratering crude oil prices, as well as poor economic data that suggests the country could be heading for a significant slowdown. Will the dollar continue to slide, or will it pull off an upset and surprise the experts?

Canadian Dollar Strengthens As BOC Weighs Rate Hike

The Canadian dollar is strengthening against its US counterpart as the central bank hinted that a rate hike is on the table, but it depends entirely on economic data – both at home and abroad. The loonie has improved against the greenback so far this year, despite the Bank of Canada (BOC) taking a wait-and-see approach on interest rates. Rising crude oil prices are also helping lift the currency to finish off […]

Canadian Dollar Declines Against US Dollar on Weak Retail Sales Data

The Canadian dollar today dropped to new daily lows against its US counterpart following the release of weak Canadian retail sales data. The loonie had made gains against the greenback earlier today as evidenced by the USD/CAD currency pair’s decline before retracing all of its gains after the release.

Canadian Dollar Slides to 18-Month Low on Crude Prices, Manufacturing Data

The Canadian dollar is trading sideways against its US rival on Thursday as investors try to make sense of which direction the loonie is headed. The currency has tumbled to an 18-month low on crashing crude oil prices, and the currency was not helped by disappointing manufacturing data.

Canadian Dollar Weakens on Falling Oil Prices, Bearish BOC Warning

The Canadian dollar is tumbling on Thursday as the price of oil plunges and the Bank of Canada (BOC) issues another bearish warning about the national economy. The loonie has performed poorly against the greenback, sliding nearly 1% over the last week and 7% so far this year.

Canadian Dollar Sideways Amid Lower Crude Prices, BOC Comments

The Canadian dollar was unable to keep the momentum from last week’s strong jobs report, and the loonie could not get a boost on Monday on bullish comments from the head of the Bank of Canada (BOC). Investors might find direction in the results of Tuesday’s US midterm elections, as well as some American and Canadian economic data this week.

Canadian Dollar Weakens to One-Week Low on Trump-NAFTA Spat

The Canadian dollar weakened to its lowest level in a week as traders are doubtful that Ottawa can reach a new trade deal with the US. Trade negotiations hit a roadblock midweek after President Donald Trump weighed in on the talks and revealed he rejected a meeting with Prime Minister Justin Trudeau. The escalating trade tensions could lead to Canada sitting on the sidelines of a US-Mexico bilateral agreement.

Canadian Dollar Plunges on Fed Rate Hike, NAFTA Uncertainty

The Canadian dollar is plunging midweek after the Federal Reserve raised interest rates and on growing uncertainty regarding a new North American Free Trade Agreement (NAFTA). Without any upcoming Canadian economic events, traders will look ahead to key US numbers later this week.

Canadian Dollar Touches Three-Month High on US Trade Deal Hopes

The Canadian dollar is nearing its best level in three months as investors are hopeful that a new trade deal can be reached with the US and Mexico. After President Donald Trump and his administration announced a new trade pact with Mexico, the White House confirmed it will now concentrate its efforts on Canada, hopefully coming to a trilateral arrangement before the midterm elections in November.

Canadian Dollar Rallies amid NAFTA Hopes

The Canadian dollar rallied against its major peers today (though failed to gain on the strong euro) after the United States and Mexico reached a preliminary trade agreement, giving hope that the similar deal can be reached with Canada.

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