The Canadian dollar today surged against its US peer erasing yesterday’s losses boosted by the rising crude oil prices, which fueled the commodity-linked loonie. The USD/CAD currency pair later recovered and rallied higher as the loonie reacted to Canadian employment data, which was worse than expected.
The Canadian dollar today surged against its US peer as the latter eas reeling from yesterday’s speech by the Fed Chair Jerome Powell, which unveiled a new inflation policy. The USD/CAD currency pair today fell for the fourth consecutive session to lows last seen in January as the greenback remained under intense selling pressure.
The Canadian dollar today rallied slightly against the US dollar after the release of the mixed Canadian inflation data for July before losing its gains later. The USD/CAD currency pair then recouped its losses as the greenback recovered and rallied higher during the American session.
The Canadian dollar today lost ground against its southern neighbour driven by the upbeat US nonfarm payrolls report for July released in the American session. The USD/CAD traded higher boosted by the risk-off investor sentiment in the face of rising US-China tensions but gave up some of its initial gains as the loonie clawed higher.
The Canadian dollar today rallied against its US peer as oil prices hit new multi-month highs before giving up its gains and heading lower. The USD/CAD currency pair later recouped most of its losses as oil lost its lustre at a crucial resistance level dragging the loonie lower.
The Canadian dollar today posted slights gains against its US peer after the release of upbeat Canadian May GDP data in the American session. The USD/CAD currency pair was trading sideways with minimal losses for most of today’s session as global crude oil prices remained sidelined.
The Canadian dollar today lost ground against its southern neighbour amid driven by the flight to safety mood that dominated the financial markets today. The USD/CAD currency pair rallied today as investors were spooked by the rising coronavirus cases globally, which pose a direct threat to the ongoing global economic recovery.
The Canadian dollar today lost ground against the US dollar amid investor optimism about the unprecedented V-shaped stock market recovery going on in the US. The USD/CAD pair rallied higher as traders remained sceptical that the oil output cuts extended by the OPEC cartel and its allies would stabilise oil prices.
The Canadian dollar today extended its rally against the US dollar after the release of surprisingly good employment data for May. The USD/CAD currency pair fell even though the US economy reported better than expected jobs numbers.
The Canadian dollar today remained weak against the US dollar despite the release of upbeat Canadian GDP data in the early American session. The USD/CAD currency pair kept trading near the two and half month lows as investors waited patiently for Trump’s speech.
