Updates on the latest happenings surrounding the Canadian dollar, other USD/CAD-related news, and useful currency exchange tools including our currency converter.
Traders looking ahead to Friday’s US nonfarm payrolls report. Bank of Canada expected to cut rates by 25 bps tomorrow. US dollar is bid to start the week. USDCAD: open 1.3535, overnight range 1.3476-1.3548, close1.3496, WTI $72.64, Gold, $2500.98 The Canadian dollar is on the defensive to start the month. It is a short, data and event-rich week which includes the Bank of […]
Canadian economic growth expected to have slowed in June. US Core PCE-Price index forecast at 0.2% m/m (previous 0.1%) US dollar opens a tad firmer across the board. USDCAD: open 1.3474, overnight range 1.3470-1.3491, close 1.3485, WTI $75.89, Gold, $2524.52 The Canadian dollar drifted with a modestly negative bias overnight but is still on track […]
UBS downgrades China 2024 GDP forecast to 4.6% from 4.9%. US weekly jobless claims may cause a bigger reaction than usual. US dollar mostly halts its slide-NZD outperforms. USDCAD: open1.3456, overnight range 1.3450-1.3483, close 1.3480, WTI $74.44, Gold, $2523.06 The Canadian dollar rally that accelerated on Friday following Fed Chair Powell’s dovish pivot in a […]
Loonie drifting higher on talk of aggressive Fed rate cuts. Australian inflation rises more than expected, but below last month. US dollar opens modestly higher but remains on the defensive. USDCAD: open1.3460, overnight range 1.3441-1.3469, close 1.3443, WTI $74.69, Gold, $2510.32 The Canadian dollar scratched out further gains yesterday and then consolidated them in a […]
Second tier US data on tap Traders biding their time until next week’s US employment data. US dollar trading defensively and with a negative bias. USDCAD: open 1.3469, overnight range 1.3465-1.3489, close 1.3486, WTI $76.66, Gold, $2508.56 The Canadian dollar is trading with a bullish bias in the wake of Fed Chair Jerome Powell’s Jackosn […]
US Durable Goods Orders released today. Powell’s comments spark flurry or “risk-on” trades US dollar under pressure from aggressive Fed rate cut expectations. USDCAD: open 1.3510, overnight range 1.3499-1.3516, close 1.3514, WTI $75.55, Gold, $2525.05 The Canadian dollar rallied sharply and hung to most of Friday’s gains in a somewhat subdued overnight session. USDCAD plunged […]
Canada Retail Sales expected to fall 0.3% m/m Markets on hold until Powell’s speech at 10:am ET US rangebound but modestly firmer from yesterday’s opening levels. USDCAD: open 1.3588, overnight range 1.3582-1.3618, close 1.3617, WTI $73.81, Gold, $2499.19 The Canadian dollar is swaying with the shifts in US dollar sentiment, which is largely driven by […]
FOMC minutes are the highlight of a light US economic calendar. Nonfarm payroll revisions to benchmark could roil markets. US dollar continues to fall on dovish Fed speculation. USDCAD: open 1.3609, overnight range 1.3599-1.3626, close 1.3620, WTI $73.45, Gold, $2505.49 The Canadian dollar continues to grind out gains, driven by broad-based selling pressure on the […]
Canada CPI expected to have risen 2.5% y/y in July (June 2.7%). Gold surges on US rate outlook. US dollar reeling as dovish Fed talk heats up. USDCAD: open 1.3615, overnight range 1.3609-1.3642, close 1.3633, WTI $73.56, Gold, $2521.55 The Canadian dollar rallied overnight caught up in a rush of widespread US dollar selling against […]
Loonie struggling to find a direction Risk sentiment improves following US retail sales data. US dollar drifts lower in uneven manner. USDCAD: open 1.3720, overnight range 1.3715-1.3736, close 1.3734, WTI $76.88, Gold, $2463.44 The Canadian dollar has a lot in common with a car with bald tires stuck on a patch of ice. Both are […]
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