The Canadian dollar started on Friday holding a three-month high as inflation data boosted odds of the central bank raising interest rates. Those gains were later pared after a White House official stated that the US is “very, very close” to moving ahead on a trade deal without Canada, suggesting that the U.S. and Mexico will embark upon a bilateral agreement instead of a trilateral one.
The Canadian dollar is trading higher on Thursday on higher energy prices and renewed North American Free Trade Agreement (NAFTA) negotiations between Canadian and US officials. With NAFTA talks at a standstill, the loonie has been finding support from rallying crude oil, allowing the currency to near a three-week high.
The Canadian dollar, which enjoyed its biggest weekly gain since April last week, is posting modest gains on Monday as investors are bracing for a week of tense North American Free Trade Agreement (NAFTA) talks. Officials are being pressed to reach a deal, especially with Mexico’s president-elect about to take office and the US holding midterm elections in November. Traders feel that the added pressure might lead to a conclusion, […]
The US dollar ended the week broadly weaker against its most-traded rivals as the positive market sentiment and disappointing macroeconomic data made the currency less attractive to investors.
The Canadian dollar weakened on Friday, but the loonie is still on track for its biggest weekly gain in about five months. The currency recorded gains on surging oil prices, but they were capped on reports that the US and Mexico might exclude Canada from a trade deal, especially with the month-end deadline on the horizon.
The Canadian dollar is strengthening against its US counterpart on Tuesday after officials confirmed that they are extending talks to renegotiate the North American Free Trade Agreement (NAFTA). The latest reports suggest that American trade representatives are encouraging Ottawa to open up its market and modify its protectionist systems that have been in place for decades.
The Canadian dollar today fell significantly against its US counterpart following the release of the latest Canadian employment data, which missed expectations. The USD/CAD currency pair was also boosted by the resurgent greenback, which was fueled by the upbeat US nonfarm payrolls report released at the same time.
The Canadian dollar stumbled to its lowest level in six weeks on Tuesday after President Donald Trump suggested that it is not necessary to keep Canada in a new trade deal, a remark that comes a week after reaching an agreement with Mexico. The loonie will now try to find momentum in upcoming economic data.
The Canadian dollar is sliding before the Labor Day long weekend as global trade concerns and disappointing gross domestic product (GDP) figures are weighing on the loonie. It will be difficult for the Canadian dollar to find direction until a trilateral trade deal with the US and Mexico is either completed or rejected.
The Canadian dollar dropped today after nation’s gross domestic product showed no growth in June, disappointing market participants. Hopes for a NAFTA deal remained a positive factor for the currency, which may support it in the near future.
