The Canadian dollar is weakening against its US peer to finish the trading week, paring most of its gains from recent sessions. The loonie is slumping amid declining crude oil prices and developments on the Keystone XL pipeline front. But positive economic data offset some of the bearish news. Could the currency’s push over the last several months come to a screeching halt?
The US dollar is sliding against its major currency peers on Thursday, the first full day of President Joe Biden‘s term in the White House. The greenback is sliding mostly on disappointing employment data, with initial jobless claims remaining at monthly highs.
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.
The Canadian dollar is struggling for direction against its US counterpart on Tuesday, with the loonie finding support from a rebound in crude oil prices after enduring disappointing manufacturing numbers. The Canadian dollar has been trading relatively flat in the first few weeks of the calendar year. Could it be a flat first quarter for the loonie?
Could the US dollar maintain its impressive start to 2021 on Thursday? Investors sought refuge from bearish data and economic uncertainty after the federal government reported the higher number of initial jobless claims in about five months. Financial markets are also waiting for President-Elect Joe Biden‘s stimulus and relief proposals, with only days until he is inaugurated.
The US dollar is trading higher as investors take more of a cautious approach to the financial markets in the middle of the trading week. Traders are combing through the data, including consumer prices and mortgage lending, but they are also keeping an eye on the US impeachment vote. The greenback is continuing its surprisingly strong start to 2021, but can the currency keep up the momentum?
The US dollar is looking to log a gain in the first trading week of 2021 as investors potentially seek refuge in the conventional safe-haven asset. The US government reported a worse-than-expected jobs report for December, driven by a resurgence in the coronavirus pandemic that is approaching 300,000 new infections per day. Is the greenback on the verge of facing a correction higher?
The US dollar is extending its winning streak to two sessions toward the end of the first trading week of 2021. The greenback, which has come under pressure over the last nine months, is finding support in the political chaos unfolding in Washington during the final days of President Donald Trump’s tenure. The buck’s ascent occurred alongside a rally in the financial markets and bullish economic data.
The US dollar found support on Wednesday after a barrage of American political developments dominated the news cycle. The greenback recorded modest gains against many of its currency rivals in the aftermath of the Georgia special election. Vice President Mike Pence also impacted the financial markets by declaring that he is not overturning November’s presidential election result.
The US dollar is struggling to find direction in overnight trading as the Georgia runoff elections go down to the wire. With control of the US Senate in the balance, financial markets have been paying close attention to the electoral outcome of the race that is critical for both parties. The result could have a considerable impact on fiscal policy moving forward.
