The Canadian dollar today rallied against its much weaker US counterpart buoyed by rising crude oil prices and the elevated investor risk appetite. The USD/CAD currency pair fell to new lows despite the latest Canadian jobs data missing consensus estimates by a wider margin than US data.
The US dollar weakened against its currency peers to close out the trading following a disappointing January jobs report. The greenback, which has turned bullish to kick off 2021, took a breather as the broader financial markets tried to process the labor data and the overall economic trends. If the coronavirus economic recovery fails to accelerate, how will the buck perform?
The US dollar is strengthening against its currency peers on Thursday as the number of Americans filing for unemployment benefits fell below 800,000. The greenback is finding support on positive economic data as the broader financial markets trade relatively flat. The buck has had a strong start to 2021, beating market forecasts and rallying more than 1% in the first few weeks of the calendar year.
The Canadian dollar was one of the weakest currencies on Monday, falling against the majority of its most-traded peers, though not all of them. It was surprising to see such a poor performance considering that fundamentals were largely supportive of the currency.
The Canadian dollar strengthened against its US peer to close out the trading week, capping off a disappointing month as the greenback recorded gains against most of its currency competitors. The loonie found support on a decent economic performance toward the end of last year, suggesting that the economy is recovering at a modest pace, despite the likelihood that the nation contracted last year. Can the loonie recover in February?
The US dollar slipped against many of its major currency rivals on Thursday, with market euphoria returning to the equities arena following the biggest one-day drop since October. This comes as initial jobless claims fell to a three-week low, and US economic growth slowed in the fourth quarter. So far in 2021, the greenback has exceeded expectations, but can the international reserve currency maintain its momentum heading into February?
The US dollar is soaring in the middle of the trading week, buoyed by a triple-digit decline in the financial markets. But investors have also been monitoring the Federal Reserve and potential hints as to what to expect from monetary policy moving forward. Housing and durable goods data were also in focus, but traders were more determined to know if they were receiving additional stimulus this year.
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.
