Updates on the latest happenings surrounding the Canadian dollar, other USD/CAD-related news, and useful currency exchange tools including our currency converter.
Bank of Canada poised to cut rates by 50 bps. IMF predicts Canada GDP growth to outpace G-7 in 2025. US dollar opens slightly higher vs majors except CAD and GDP USDCAD: open 1.3821, overnight range 1.3815-1.3829, close 1.3819, WTI $74.65, Gold, $2750.43 The Canadian dollar traded sideways in an uneventful overnight session as […]
US election jitters underpinning US dollar. Treasury yields climb on Fed caution. US dollar mixed but rangebound to start the day. USDCAD: open 1.3834, overnight range 1.3822-1.3838, close 1.3830, WTI $70.58, Gold, $2731.57 The Canadian dollar is rangebound but on the defensive after a lack of actionable data led to a quiet trading […]
China cuts 1 and 5 year LPR US dollar opens with gains except against CHF. USDCAD: open 1.3822, overnight range 1.3799-1.3827, close 1.3802, WTI $69.86, Gold, $2734.48 USDCAD is also being underpinned by expectations for a 50 bp rate cut and dovish Bank of Canada outlook in the quarterly Monetary Policy Report on Wednesday. […]
Risk sentiment rises in Asia as PBoC hints at RRR cuts. WTI oil prices trade defensively. US dollar consolidates recent gains in a mixed session overnight. USDCAD: open 1.3793, overnight range 1.3786-1.3800, close 1.3798, WTI $70.83, Gold, $2711.85 The Canadian dollar stagnated in an uninspiring overnight session, continuing to be weighed down by the […]
ECB expected to cut rates 25 bps today, which is fully priced in. European equities and S&P 500 futures trading higher. US dollar opens mixed but mostly firmer. USDCAD: open 1.3782, overnight range 1.3747-1.3786, close 1.3753, WTI $70.67, Gold, $2679.27 The Canadian dollar enjoyed an uneventful overnight session with traders hoping today’s US economic […]
GBPUSD sinks on weak inflation and Retail Price Indexes. Global equities trading defensively US dollar opens with small gains except against CAD. USDCAD: open 1.3786, overnight range 1.3772-1.3793 close 1.3776, WTI $70.64, Gold, $2680.94 The Canadian dollar is clawing back some the losses incurred after yesterday’s soft Canadian inflation report. Headline inflation rose just […]
Canadian employment data expected to show 27,000 new jobs. Bank of Canada Business Outlook Survey due at 10:30 am. US dollar a tad softer compared to the close but remains bid. USDCAD: open 1.3767, overnight range 1.3736-68, close 1.3740, WTI $75.23, Gold, $2637.28 The Canadian dollar continues to be under stress due to sharply diverging […]
M&A flow may be weighing on Loonie. FOMC minutes on tap US dollar opens directionless ahead of inflation USDCAD: 1.3666, overnight range 1.3643-1.3675, close 1.3648, WTI $74.22, Gold, $2617.78 The Canadian dollar continued to tick lower overnight even though CAD/US 10-year interest rates spreads widened. The selling pressure may be coming from speculation of a […]
Loonie suffering from broad-based US dollar strength. WTI oil prices fall 4.0% US dollar opens with a mixed tone-commodity bloc currencies underperform. USDCAD: 1.3645, overnight range 1.3611-1.3648, close 1.3620, WTI $75.59, Gold, $2640.61 The Canadian dollar remains under pressure partly because the CAD/US 10-year interest rate spread narrowed in Canada’s favour. That occurred despite Fed […]
Markets trading cautiously after Friday’s volatility. Oil prices rise on fresh supply concerns US dollar slightly extends Friday’s gains, except against majors. USDCAD: open 1.3590, overnight range 1.3568-1.3599, close 1.3576, WTI $76.11, Gold, $2657.18 The Canadian dollar plunged on the heels of a stronger than expected US nonfarm payrolls report on Friday then consolidated the […]
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