USD/CAD — News Archive

The Great Britain pound fell during the past trading week on poor macroeconomic data and concerns that the Bank of England will postpone the planned interest rate hike. The Canadian dollar had the similar issues.

The Canadian dollar gained on most of its major peers on Tuesday. While Canada’s economic data was mixed, the silver lining for the currency was the rally of crude oil prices.

The US dollar ended the week rather soft, gaining on safe currencies, but falling against other peers, commodity currencies in particular.

The Canadian dollar today rallied against its US counterpart despite the release of weak Canadian building permits data by Statistics Canada driving the USD/CAD currency pair to 6-week lows. The release of positive US Producer Price Index data could not reverse the currency pair’s downtrend due to positive investor sentiment towards the loonie.

The US dollar ended the week mixed, rising against such majors as the euro and the Japanese yen, but falling versus such currencies as the Great Britain pound and the Canadian dollar. While nonfarm payrolls was the main economic release during the past week, traders paid more attention to escalation of trade war rhetoric between the United States and China.

The Canadian dollar fell on Friday despite better-than-expected employment data. Other economic reports were not that good, though, and there were other fundamental factors that might have caused the decline.

The Canadian dollar declined intraday during Wednesday’s trading session but has managed to erase its losses versus most major currencies and even logged gains against some of them.

The Canadian dollar jumped against its rivals today on optimism about the NAFTA deal and as prices for crude oil, Canada’s main export commodity, rebounded after yesterday’s slump.

After rallying earlier today, the Canadian dollar fell against its most-traded peers, following the slump of crude oil prices.

The US dollar today rallied against some of its main trading peers including the euro and the Canadian dollar. The greenback’s rally was triggered by the release of the IHS Markit US Manufacturing PMI for March, which was slightly lower than expected, but still tilted the scales in favor of the greenback.