The Canadian dollar (CAD) edged lower against the U.S. dollar (USD) on Friday but still posted its biggest weekly gain since June. The loonie traded at 1.3521 to the greenback, down 0.1% from Thursday. The surge in oil prices played a pivotal role in bolstering the Canadian dollar’s performance. Crude oil soared to a 10-month […]
Currency analysts are painting a promising picture for the Canadian dollar (CAD) as central banks worldwide, including the influential Federal Reserve, edge closer to the conclusion of their interest rate hike campaigns. This optimism has been revealed in a recent Reuters poll, where nearly 40 experts have expressed their bullish forecasts, projecting the loonie to […]
The Canadian dollar encountered some headwinds against its U.S. counterpart on Friday, as early data indicated a contraction in the domestic economy during the month of June. This development has sparked concerns among market participants, who are closely monitoring the situation to assess the potential impact on borrowing costs and economic activity. Previous data from […]
In a surprising turn of events, the Canadian dollar (CAD) flexed its muscles against its American counterpart on Tuesday, buoyed by an unexpected surge in domestic inflation. Rent prices and mortgage interest costs played the role of inflationary superheroes, propelling the headline Consumer Price Index (CPI) to new heights. As a result, the USD/CAD pair […]
The Canadian dollar is on a roll, riding high on a wave of positive economic indicators and some good old-fashioned luck, with the loonie strengthening against the US dollar. So, what’s behind the Canadian dollar’s recent gains? It’s a combination of factors, really. For one, the US Federal Reserve has reevaluated its monetary policy outlook, […]
Canada’s beloved loonie has been giving the US dollar a run for its money in recent weeks as it continues to strengthen against its American counterpart. In a surprising twist, this comes as investors are cheering on the Federal Reserve’s signal that it’s about to take a breather in its tightening campaign. The Canadian dollar […]
USD/CAD has been trading with no clear direction over the past month and a half, moving between support at 1.3280 and resistance at 1.3530. However, in recent days, the pair has gained momentum and accelerated to the upside, testing the top of the range but failing to decisively break out. The upcoming sessions could potentially […]
The Canadian dollar (CAD) was the best performer last week, thanks to a surprisingly strong job report that exceeded expectations. The report showed an increase of 150k in headline growth, with gains concentrated in full-time jobs in the private sector. The news has raised the possibility of further rate hikes by the Bank of Canada […]
The Canadian dollar (CAD) softened against the US dollar (USD) on Wednesday following a Bank of Canada (BoC) announcement. In a recent press release, the Bank of Canada announced that it will be raising interest rates by 25 basis points, citing persistently elevated inflation and increased resilience from the United States and Europe in terms […]
