CAD/USD (CADUSD=X)
- Reuters
Canadian dollar steadies amid short-covering rally in G10 FX
The Canadian dollar was little changed against its U.S. counterpart on Thursday as investors took stock of recent market moves ahead of a possible U.S. government shutdown, with the currency steadying a day after hitting a two-week low. Canadian government bond yields were lower across the curve, tracking moves in U.S. Treasuries.
- Reuters
Canadian dollar recovers from 2-week low as oil rallies
The Canadian dollar edged higher against its U.S. counterpart on Wednesday as a jump in oil prices offset recent weakness in equity markets, with the currency recovering from its lowest level in nearly two weeks. The currency has seesawed "as the positive influence of rising oil prices competes with the negative influence of falling stock prices," said Erik Bregar, director, FX & precious metals risk management at Silver Gold Bull. The price of oil, one of Canada's major exports, settled 3.6% higher at $93.68 a barrel after a steep drop in U.S. crude stocks compounded worries of tight global supplies.
- Reuters
Canadian dollar hits 8-day low as Wall Street slides
The Canadian dollar weakened to an eight-day low against its U.S. counterpart on Tuesday as a downturn in investor sentiment offset preliminary domestic data for August showing gains for wholesale trade and factory sales. "The Canadian dollar was not going to be able to swim against the tide of a stronger U.S. dollar for very long," said Michael Goshko, senior market analyst at Convera Canada ULC. Wall Street's main indexes fell and the U.S. dollar added to recent gains against a basket of major currencies as investors continued to grapple with the prospect of a prolonged period of restrictive monetary policy by the Federal Reserve.
