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Canadian Dollar Weak Despite Upbeat Q1 GDP as US Dollar Rallies

The Canadian dollar today remained weak against the US dollar despite the release of upbeat Canadian GDP data in the early American session. The USD/CAD currency pair kept trading near the two and half month lows as investors waited patiently for Trump’s speech.

Canadian Dollar Drops Against US Peer, Recovers on Poloz’s Speech

The Canadian dollar today lost ground against its US peer as the greenback posted gains boosted by President Donald Trump’s comments about a strong dollar. The USD/CAD rallied higher earlier today before giving up all its gains later in the session as the loonie recovered on hawkish comments from the Bank of Canada Governor.

Canadian Dollar Weakens As BoC Imposes Emergency Interest Rate Cut

The Canadian dollar is weakening against many currency rivals to finish out the trading week. Following a week of modest gains, the loonie is falling on the central bank announcing an emergency cut to interest rates as the economy gets battered by coronavirus outbreak and tumbling energy prices.

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 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.

Canadian Dollar Mixed As BoC Cuts Interest Rates Amid Covid-19 Fears

The Canadian dollar is trading mixed against multiple currency rivals midweek after the central bank delivered on a cut to interest rates. The Bank of Canada (BoC) joins a growing chorus of institutions that are slashing rates this week in response to the growing concerns over the economic fallout from Covid-19. Will it be enough to fight the outbreak or will more monetary easing be necessary?

Canadian Dollar Rallies on Inflation Report, Crashes on BoC Rate Decision

The Canadian dollar today rallied against its US counterpart in the first half of today’s session driving the USD/CAD to its daily lows boosted by in-line inflation figures. However, the currency pair quickly reversed course after the Bank of Canada announced its rate decision, which was interpreted as being very dovish.

Canadian Dollar Mixed on October Jobs Report, Housing Fallout

The Canadian dollar is failing to rebound to kick off the trading week as the currency was stung by a disappointing October jobs report on Friday. The loonie was further hampered by slumping housing numbers. Is the Canadian economy at a standstill or is there room for growth?

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 Flat As Investors Brace for Interest Rate Decision

The Canadian dollar is trading relatively flat against most competing currencies to kick off the trading week. After witnessing the August federal deficit come in larger than anticipated, investors are now waiting to see how the Bank of Canada (BOC) moves ahead with interest rates now that the general election is over and the Liberals have secured a minority government.

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