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 […]
Despite facing significant headwinds in recent weeks, the Canadian dollar, also known as the Loonie, has demonstrated remarkable resilience. With a major sell-off coinciding with declining crude oil prices and ongoing banking crises, it’s been a challenging time for the Loonie. However, positive economic indicators and supportive data have helped the currency consolidate and maintain […]
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, […]
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 […]
The Chinese economy’s optimism had a positive impact on the Canadian dollar, giving the commodity currency a big lift. Being a significant global supplier of numerous commodities, the loonie gained traction despite declining crude oil prices. Since then, COVID cases in China have continued to constrain the upside for commodity demand, as we have seen […]
According to a Reuters poll, the Canadian dollar (CAD) will grow over the course of the next year as key commodities user China relaxes COVID-19 restrictions and the Federal Reserve may have finished its interest rate hike campaign. Since the beginning of 2022, the loonie has lost nearly 7% of its value against the US […]
