The Canadian dollar is weakening against many currency rivals to finish out the trading week. Following a week of modest gains, the loonie is falling on the central bank announcing an emergency cut to interest rates as the economy gets battered by coronavirus outbreak and tumbling energy prices.
The US dollar is sliding against multiple currency rivals on Thursday, but it is holding relatively steady. This might come as a surprise for market observers because the greenback and the broader financial market should be in freefall following record-breaking jobs numbers. It is the opposite.
The US dollar is continuing its streak of losses midweek as the federal government prepares to pass the $2 trillion stimulus package, which has sparked a rally in equities for two straight sessions. With a heightened risk appetite, investors are pouring into riskier currencies after liquidating everything to buy the greenback throughout the market turmoil. Is the buck set to plunge even further?
The Canadian dollar today spiked higher against the US dollar after the Federal Reserve announced massive quantitative easing measures causing the greenback to fall. The USD/CAD currency pair fell briefly before recouping its losses and heading higher as the dollar recovered and the Loonie was weighed down by weak crude oil prices.
The US dollar is gaining on a couple of major currency rivals to start the trading week, despite the Federal Reserve announcing a massive expansionary program to rescue financial markets. With volatility still plaguing equities, investors continue to dive into the greenback to shield themselves from the chaos. The buck may spike again as the federal government gets ready to pass a massive stimulus bill.
The US dollar is weakening against a couple of major currency rivals at the end of the trading week, but the greenback is still on track for its best week since the financial crisis more than a decade ago. With tremendous economic and health uncertainty throughout global markets because of the coronavirus pandemic, investors are pouring into the safe-haven asset and propping up the dollar.
The US dollar is weakening against a few currencies on Thursday as new labor data confirms that the Covid-19 pandemic is beginning to have a negative effect on the strong labor market. But the decline was capped by the Federal Reserve announcing temporary dollar swap lines with nine central banks for several months. Despite the dramatic impact the coronavirus has had on the world’s largest economy, the US dollar has been the lone bright […]
The US dollar is rallying against many major currencies midweek as investors continue to pour into the traditional safe-haven asset. Despite mixed economic data, the greenback is trading at its best level in three years throughout the Covid-19 pandemic that has crippled the global economy and paralyzed global financial markets.
The Canadian dollar today fell against its US peer as global crude oil prices fell to new lows as Saudi Arabia plans to up production as the oil price war heats up. The USD/CAD currency pair rallied to the 1.4400 high that was last seen in 2016 as demand for the greenback soared driven by the dominant risk-off market sentiment.
The Canadian dollar is crashing against most currency rivals on Monday after the federal government announced that it would shut down the border to non-Canadian citizens. Anyone who is showing symptoms of Covid-19 will not be permitted to enter the country. This was Prime Minister Justin Trudeau’s first major policy response to the virus outbreak, and he confirmed that more fiscal announcements will be coming this […]
