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Canadian Dollar Mixed on Economic Outlook, Crude Oil Prices

The Canadian dollar was mixed today, rising against some rivals while falling versus others. Factors that were driving the currency today were the outlook for the nation’s economic growth and movement of crude oil prices.

Canadian Dollar Reacts Negatively to Retail Sales Report

The Canadian dollar declined against its most-traded rivals, being the weakest major currency today. One of the reasons for the currency’s awful performance was unexpectedly slow growth of Canadian retail sales.

US Dollar Hurt by Philly Fed Manufacturing Index, Buoyed by Jobless Claims

The US dollar is trading downwards one day after the Federal Reserve left interest rates unchanged, but the central bank leaving the door open to a future rate cut should the data support a move might be driving down the dollar. The greenback declined more on the Philadelphia Federal Reserve Bank manufacturing survey, though its descent was capped by lower-than-expected jobless claims.

Canadian Dollar Attempts to Rally Following Rising Prices for Crude

The Canadian dollar attempted to rally against its major rivals today. While the currency managed to log gains against most of them, the rally was limited, and the loonie was unable to outperform the extremely strong Swiss franc.

Canadian Dollar Rises Sharply as Consumer Inflation Beats Expectations

The Canadian dollar was firm today after nation’s consumer inflation accelerated and beat analysts’ expectations. The rally of crude oil prices likely also helped the currency.

US Dollar Mixed on Dovish, Optimistic Federal Reserve

The US dollar was mixed against its major rivals midweek as analysts and investors are trying to make heads and tails of the Federal Reserve‘s latest policy announcement. The US central bank left interest rates unchanged, but it confirmed that it will “closely monitor” the numbers to determine if rates need to be lowered. Despite the dovish signals, Fed officials are still optimistic about the US economy, sticking […]

Rising Oil Prices Help Canadian Dollar Ignore Unfavorable Data

The Canadian dollar was generally firm today despite unfavorable domestic macroeconomic data. The likely reason for the loonie’s good performance was the sharp rally of prices for crude oil, Canada’s major source of export revenue.

US Dollar Weakens on Poor Data, Unexpected June Rate Cut

The US dollar is weakening against its currency peers to start the trading week. Driven by disappointing economic data and a central bank unlikely to cut interest rates at its policy meeting this week, the greenback is taking a hit as investors take a wait-and-see approach.

Canadian Dollar Mixed on Disappointing Auto Sales, Rising Energy Prices

The Canadian dollar is mixed at the end of the trading week, finding direction against several currencies on recent automobile sales data and rallying crude oil prices. The loonie is trying to take advantage of the many dovish comments at the Federal Reserve, further helping the dollar pare its losses in the last week.

US Dollar Mixed on Lower-Than-Expected Inflation Data

The US dollar is mixed against several major currency rivals midweek after new lower-than-expected inflation data was released. Prices have proven to be major drivers of the greenback this week, mainly because there have been little updates to the US-China trade dispute and the brief US-Mexico trade spat concluded. On monetary policy, it will likely be speculation until the next Federal Reserve meeting.

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