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Positive Fundamentals Help Loonie to Rally Despite Huge Drop of Oil Prices

The Canadian dollar gained on Thursday, though trimmed its gains by the end of the trading session. The currency managed to rally even as crude oil posted huge losses, falling more than 4% over the course of Thursday’s trading. There were several possible fundamental reasons for the good performance of the Canadian currency.

Canadian Dollar Weakens Despite Ottawa Tabling USMCA Ratification

The Canadian dollar is weakening against major currencies on Tuesday, despite the federal government tabling a motion that would ratify the historic US-Mexico-Canada Agreement, or USMCA. But the loonie might be losing traction because the Bank of Canada (BOC) is not expected to raise interest rates until after the federal election in October.

Mexican Peso Weakens Despite Nearing Repeal of US Steel Tariffs

The Mexican peso is weakening against several major currencies toward the end of the trading week. Despite senior officials claiming that they are close to striking a deal that would see the US repeal its tariffs on steel and aluminum from Mexico, the peso was unable to take advantage. This could show that traders are more concerned about its fledgling economy and the political turmoil that has unfolded […]

Loonie Dips Intraday on Inflation Data, Recovers to Settle Higher

The Canadian dollar declined intraday as some of Canada’s inflation indicators missed expectations. But the currency rebounded later, ending the Wednesday’s trading session above the opening level.

Canadian Dollar Weakens on IMF Forecast, Crude Oil

The Canadian dollar is weakening on Tuesday after the International Monetary Fund (IMF) published a bearish report on the Canadian economy. The loonie endured additional pressure on tumbling energy prices, which is never good news for a country whose main export is crude oil.

Mexican Peso Strengthens Amid Trump’s Border Shutdown Threat

The Mexican peso is rising against several currencies at the end of the trading week. The peso’s recent rally comes as President Donald Trump threatened to close the border, a move that many have estimated would cost both countries billions of dollars in lost commerce. On the domestic front, the federal government plans to curb spending amid slower economic growth and falling crude oil production, leaving financial analysts with the impression that the country […]

Canadian Dollar Surges Despite Disappointing Retail Sales

The Canadian dollar is strengthening against a basket of currencies at the end of the trading week, despite disappointing retail sales data. The loonie’s performance also comes as the central bank warned that the path of interest rates remains “uncertain,” leaving markets guessing when the next rate hike will take place in 2019 – if at all.

Mexican Peso Weakens on Trump Border Threat, Incoming Government

The Mexican peso weakened against its American counterpart at the end of the trading week. The peso tumbled after President Donald Trump threatened to close the US-Mexico border. The currency is also struggling to rally as the nation’s incoming leftist government will soon come to power.

Canadian Dollar Sideways Ahead of Key BOC Rate Decision

The Canadian dollar is trading sideways on Monday ahead of an important announcement on interest rates by the Bank of Canada (BOC). The loonie is also struggling to find an upwards direction because of sliding crude oil prices, weak economic data, and a rallying greenback.

Canadian Dollar Rises on Business Optimism, Future Rate Hikes

The Canadian dollar is rallying to kick off the trading week, buoyed by growing optimism among the business community. The loonie was lifted even more on increasing odds that the central bank will raise interest rates at least one more time before the year is over.

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