The Bank of Canada (BoC) announced on Wednesday that it would maintain its key interest rate at 5%, signaling a cautious approach amidst the delicate balance of rising inflation and sluggish economic growth. BoC Governor Tiff Macklem emphasized a shift in focus from contemplating rate hikes to determining the optimal duration to sustain the current […]
The Canadian dollar, commonly referred to as the loonie, experienced a significant dip, marking its lowest point in nearly a month against the U.S. dollar, trading at 1.3389. The primary catalyst behind this decline is the mounting apprehension concerning the impact of elevated interest rates on the Canadian economy. The Bank of Canada (BoC) has […]
The Canadian dollar remained firm against its U.S. counterpart, buoyed by robust job growth data from both nations for September. Despite this resilience, the loonie was poised to conclude the week with a modest decline due to concerns over rising global bond yields. The Canadian dollar, trading at 1.3767 against the U.S. dollar, displayed resilience […]
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 […]
In a robust show of resilience, the Canadian dollar, affectionately known as the loonie, surged against the US dollar on Friday, spurred by a trifecta of positive factors: better-than-expected employment figures, unshaken labor market stability, and a buoyant oil market. Statistics Canada revealed that the Canadian economy added a remarkable 39,900 jobs in August, handily […]
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 […]
The Canadian dollar is gearing up for a period of strength as the Bank of Canada (BoC) prepares to raise interest rates for a second consecutive meeting on July 12. In a recent survey conducted by Reuters, economists expressed their confidence in a quarter-point increase, which would push the overnight rate to 5.00%. This decision […]
In a delightful turn of events, the Canadian dollar, fondly known as the “loonie,” has spread its wings and soared against its American counterpart this morning. The US dollar’s stumble has provided a much-needed boost to the loonie. However, as we take a closer look, we find that the Canadian dollar faces a complex landscape […]
