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Canadian Dollar Falls As Crude Oil Slumps, Keystone XL Pipeline Canceled

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?

USD/CAD Struggles for Direction Amid Oil Rebound, Disappointing Manufacturing Sales

The Canadian dollar is struggling for direction against its US counterpart on Tuesday, with the loonie finding support from a rebound in crude oil prices after enduring disappointing manufacturing numbers. The Canadian dollar has been trading relatively flat in the first few weeks of the calendar year. Could it be a flat first quarter for the loonie?

Canadian Dollar Falls As New COVID-19 Strain Weighs on Crude Oil

The Canadian dollar fell against its US counterpart on Tuesday as a new strain of the coronavirus weighed on crude oil prices. So far this holiday-shortened trading week, investors have been seeking refuge in the traditional safe-haven asset, highlighting legitimate concerns over the threat of this COVID-19 mutation. Will other currencies in foreign exchange markets slump should the situation intensify?

Canadian Dollar Soft After Retail Sales Miss Expectations

The Canadian dollar was soft today, falling against other most-traded currencies, after domestic retail sales data disappointed traders. The losses were limited against most of the rivals, though, with the exception of the Japanese yen and the New Zealand dollar — the two strongest currencies on the Forex market during Friday’s trading.

Canadian Dollar Rallies Against US Peer, Falls on FOMC Minutes

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.

Canadian Dollar Flat As Retail Sales Collapse in April, Finds Support in Crude

The Canadian dollar is trading relatively flat against many of its currency competitors to finish the trading week. The latest economic data showed just how severe the coronavirus pandemic lockdown was to the Great White North, but the increase in crude oil prices helped limit any of the loonie’s losses.

Canadian Dollar Rallies on High Oil Prices and Mixed Macro Data

The Canadian dollar today rallied higher against its US peer driven by high crude oil prices before the release of multiple fundamental reports from the Canadian docket. The USD/CAD currency pair today fell as the loonie rallied higher against the much weaker greenback amid a risk-on market environment as investors remain hopeful about the future.

Loonie Falls Against US Peer on Weak Oil Prices Despite Fed News Spike

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.

Canadian Dollar Flat on Lower Weekly Earnings, Drop in Wholesale Sales

The Canadian dollar is trading relatively flat against most currency rivals on Thursday as traders digest the newest data that offer a mixed portrait of the national economy. The modest gain in crude oil prices could not lift the loonie higher toward the end of the trading week.

Canadian Dollar Dips As Agriculture, Energy Affected by CN Rail Disruption

The Canadian dollar is trading slightly lower against multiple currency rivals on Tuesday following recent wholesale data. The loonie has been under threat in recent sessions as several Canadians industries are crippled by a work stoppage at the nation’s largest rail company, which has impacted the agriculture and energy sectors.

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