Tiff Macklem — News Archive

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Canadian Dollar Rallies on BoC Rate Decision and Biden Inauguration

The Canadian dollar today rallied higher against its US peer after the Bank of Canada left interest rates unchanged with a bullish economic outlook. The USD/CAD currency pair fell to new multi-year after Joe Biden’s inauguration marked the end of the Donald Trump era.

Canadian Dollar Falls As New COVID-19 Strain Weighs on Crude Oil

The Canadian dollar fell against its US counterpart on Tuesday as a new strain of the coronavirus weighed on crude oil prices. So far this holiday-shortened trading week, investors have been seeking refuge in the traditional safe-haven asset, highlighting legitimate concerns over the threat of this COVID-19 mutation. Will other currencies in foreign exchange markets slump should the situation intensify?

Canadian Dollar Plunges Despite Upbeat Retail Sales, Rising Oil Prices

The Canadian dollar today continued to lose ground against its US neighbour driven by the risk-off market sentiment, which favoured the safe-haven greenback. The USD/CAD currency pair rallied higher reversing yesterday’s losses as investors flocked ignored rising oil prices, causing the commodity-linked loonie to fall.

Canadian Dollar Plunges on Dovish BoC and FOMC Rate Decision

The Canadia dollar was on a losing streak today as investors digested yesterday’s dovish comments by the Bank of Canada regarding the currency’s value. The USD/CAD currency pair today rallied higher as investors sold the loonie after realising that Canada’s central bank was very uncomfortable with its strength.

Canadian Dollar Rallies Against US Peer Despite Weak Jobs Data

The Canadian dollar today rallied against its US peer as the US Presidential election continued to weigh on the greenback overshadowing the positive jobs data. The USD/CAD currency pair today fell to new 10-week lows as the loonie got an edge against the greenback as Joe Biden secured a significant lead over incumbent President Donald Trump.

Canadian Dollar Slumps to Two-Week Low As 8% Oil Crash Impacts Loonie

The Canadian dollar is slumping to its lowest level in two weeks against the US dollar on Tuesday. The loonie is plummeting primarily on crude oil crashing as much as 9%, joining the broader market selloff. It is going to be relatively quiet on the data front this week, which means the loonie will find direction on energy prices and the central bank’s midweek policy meeting.

Canadian Dollar Mixed As BoC Warns of ‘Prolonged and Bumpy’ Recovery

The Canadian dollar is trading mixed on Tuesday after the central bank warned that the economy faces a “prolonged and bumpy” recovery that might require additional fiscal and monetary stimulus tools. The loonie is finding support in rallying crude oil prices that have enjoyed multi-month highs after sliding below zero in April.

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.

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