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Canadian dollar extends weekly gain on rising investor sentiment

The Canadian dollar strengthened to a two-week high against its U.S. counterpart on Friday as investors grew more optimistic on the outlook for riskier financial assets and weighed prospects of the Bank of Canada resuming interest rate hikes. The loonie was trading 0.2% higher at C$1.3425 to the greenback, or 74.49 U.S. cents, after touching its strongest intraday level since May 16 at 1.3408. "With rebounding market sentiment, yield spreads moving in favour of Canada, and commodities picking up steam, it's been the perfect cocktail for a loonie rally this week," said Jay Zhao-Murray, a market analyst at Monex Canada Inc.

Rising risk appetite lifts Canadian dollar to two-week high

The Canadian dollar strengthened to a two-week high against its U.S. counterpart on Thursday along with gains for other commodity-linked currencies as investors cheered progress toward passing a U.S. debt ceiling bill. "That suggest it's a risk-on recovery, likely fueled by optimism on the debt deal passing the House of Representatives so quickly and now ready for the Senate approval," said Amo Sahota, director at Klarity FX in San Francisco. The U.S. House of Representatives passed a bill to suspend the U.S. debt ceiling on Wednesday evening.

Canadian dollar dips as oil prices fall more than 4%

The Canadian dollar edged lower against its U.S. counterpart on Tuesday as a drop in oil prices offset optimism that a deal to raise the U.S. debt ceiling would be passed by Congress. The loonie was trading 0.1% lower at 1.36 to the greenback, or 73.53 U.S. cents, after moving in a range of 1.3568 to 1.3613. "Under the hood, in terms of the fundamentals, you have got yield spreads giving it support and then weaker oil prices moving against it," said Eric Theoret, global macro strategist at Manulife Investment Management.

CAD gains as investors cheer U.S. debt ceiling deal

The Canadian dollar edged higher against its U.S. counterpart on Monday, clawing back some recent declines, as a deal to temporarily suspend the U.S. debt ceiling boosted investor sentiment. The loonie was trading 0.2% higher at 1.3584 to the greenback, or 73.62 U.S. cents, after moving in a range of 1.3584 to 1.3618. "The Canadian dollar has been able to extend its bounce from Friday thanks to a constructive risk mood following this past weekend's U.S. debt ceiling deal," said Erik Bregar, director, FX & precious metals risk management at Silver Gold Bull.

Canadian dollar hits one-month low as U.S. yields climb

The Canadian dollar weakened to a near one-month low against the greenback on Thursday as U.S. bond yields moved higher and the outcome of talks in Washington to raise the debt ceiling remained uncertain. The loonie was trading 0.3% lower at C$1.3635 to the greenback, or 73.34 U.S. cents, after touching its weakest intraday level since April 28 at 1.3644. "It has been all about the U.S. debt ceiling again today, with higher U.S. yields boosting the USD across the board," said George Davis, chief technical strategist at RBC Capital Markets.

CAD hits 3-week low amid U.S. debt ceiling uncertainty

The Canadian dollar weakened to a near three-week low against U.S. counterpart on Wednesday, tracking declines for other risk-sensitive currencies, as investors worried that U.S. debt ceiling talks are not making sufficient progress. The loonie was trading 0.6% lower at C$1.3590 to the greenback, or 73.58 U.S. cents, after touching its weakest intraday level since May 4 at 1.3605. "I think it's a concern that there is no obvious sign at this point of getting a (debt ceiling) deal put together quickly," said Shaun Osborne, chief currency strategist at Scotiabank.

Canadian dollar recovers from eight-day low as oil rallies

The Canadian dollar was little changed against its U.S. counterpart on Tuesday, clawing back its earlier losses, as oil prices rose and the greenback posted broad-based gains. "The Canadian dollar has been on the defensive since Monday morning due to widespread demand for U.S. dollars," Rahim Madhavji, president at Knightsbridge Foreign Exchange, said in a note. Wall Street indexes fell as deadlocked U.S. debt ceiling talks kept investors jittery on prospects of an unprecedented government default but the price of oil, one of Canada's major exports, settled 1.2% higher at $72.91 a barrel.

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CAD clings to weekly gain despite retail sales drop

The Canadian dollar edged lower against its U.S. counterpart on Friday but held on to much of its weekly gain, as domestic data showed retail sales fell in March and negotiations to raise the U.S. debt ceiling paused. The loonie edged 0.1% lower to 1.3510 to the greenback, or 74.02 U.S. cents, after trading in a range of 1.3470 to 1.3523. "The rise in the Canadian inflation rate, reported earlier this week, has increased the odds of a Bank of Canada rate hike," said Tony Valente, a senior FX dealer at AscendantFX.

CAD falls as Macklem resists validating rate hike bets

The Canadian dollar weakened against its U.S. counterpart on Thursday as oil prices fell and Bank of Canada Governor Tiff Macklem stopped short of endorsing the market's recent move to price in another interest rate hike by the central bank. Macklem suggested April's inflation increase - the first in 10 months - was an anomaly and said consumer prices would continue to come down, in comments following the release of the BoC's financial system report. "I think this is one of those platforms where it probably wasn't appropriate to talk about policy ... I don't get a sense that he wanted to provide much by way of new information at all," said Ian Pollick, global head, FICC strategy at CIBC Capital Markets.

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CANADA FX DEBT - Canadian dollar strengthens, benchmark yield climbs

The Canadian dollar strengthened against its U.S. counterpart on Wednesday as risk appetite rose and investors raised bets on another interest rate hike by the Bank of Canada, but the move was not enough for the currency to break out of its recent range. The loonie was trading 0.3% higher at 1.3445 per U.S. dollar, or 74.38 U.S. cents, which was toward the middle of its range since the start of the month of roughly 1.33 to 1.36. "We're seeing the Canadian dollar follow risk markets higher and oil markets higher ... but broader picture we're really rangebound," said Michael Goshko, senior market analyst at Convera Canada ULC.

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Canadian dollar posts biggest decline in 2 months as oil falls

TORONTO (Reuters) -The Canadian dollar weakened against its U.S. counterpart on Thursday, posting its biggest decline since early March, as oil prices fell and U.S. data added to evidence that the economy is slowing down. The loonie was trading 0.8% lower at C$1.3490 to the greenback, or 74.13 U.S. cents, its biggest decline since March 7. "Looks like a mix of lower oil prices and a reaction to the US PPI and initial claims reading," said Amo Sahota, director at Klarity FX in San Francisco.

Canadian Dollar Having Its Best Day This Year on Job Growth, Oil

(Bloomberg) -- The Canadian dollar is finding renewed strength after a period of consolidation. Most Read from BloombergJustice Thomas Ethics Review Questioned by US Court Leader in 2012Russia Says It Has Billions of Indian Rupees That It Can’t UseKing Charles Crowned in Spectacle Marking Turning Point for UKKimora Lee Says $93 Million US Wants From Tim Leissner Is HersBuffett Reaffirms Abel as Heir, Blames Bank Leaders for FailuresThe currency is up 1.2% Friday and on pace for its best day sinc

Jobs data helps lift CAD to biggest gain in four months

TORONTO (Reuters) -The Canadian dollar strengthened to a two-week high against its U.S. counterpart on Friday, as investors dialed back bets for interest rate cuts by the Bank of Canada in the coming months following stronger-than-expected domestic jobs data. The loonie was trading 1.2% higher at 1.3372 to the greenback, or 74.78 U.S. cents, its biggest gain since Jan. 4 and its strongest level since April 18. The Canadian economy gained 41,400 jobs in April, exceeding expectations for an increase of 20,000, while the jobless rate stayed near a record low.

Short squeeze helps lift Canadian dollar to 2-week high

The Canadian dollar strengthened to a near two-week high against its U.S. counterpart on Thursday as oil rebounded from its lowest level of the day, putting pressure on investors that have placed bearish bets on the currency.

• CANADA FX DEBT-Canadian dollar extends weekly gain on rising investor sentiment

  Reuters
• TREASURIES-Jobs data moves US Treasury yields higher, but rate 'skip' still expected

  Reuters

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Canadian dollar expected to rise closer to fair value: Reuters poll

Bullish Canadian dollar bets have been raised despite an expected global economic slowdown that could cloud the near-term outlook, with analysts in a Reuters poll saying the currency's current level doesn't reflect its fair value. The median forecast of nearly 40 currency analysts was for the loonie to strengthen to 1.345 per U.S. dollar in three months compared to 1.350 in last month's forecast. Measures of fair value include purchasing power parity (PPP) - the exchange rate that equalises the purchasing power of separate currencies.

Canadian dollar lags G10 peers as oil tumbles

The Canadian dollar weakened against its U.S. counterpart and most other G10 currencies on Tuesday as the price of oil tumbled and investors grew risk averse ahead of interest rate decisions by the Federal Reserve and European Central Bank this week. Among G10 currencies, only the Norwegian crown posted a bigger decline. "It's definitely risk aversion across asset classes," said Eric Theoret, global macro strategist at Manulife Investment Management.

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Month-end flows help CAD rebounds from one-month low

The Canadian dollar strengthened against its U.S. counterpart on Friday, rebounding from a one-month low, as risk appetite picked up and investors adjusted their currency hedges to take account of moves this month in their portfolios. The Canadian dollar was higher on Friday "owing to month-end flows," said Michael Goshko, a senior market analyst at Convera Canada.

Canadian dollar hits 4-week low on lower oil prices

The Canadian dollar weakened to a four-week low against its U.S. counterpart on Wednesday, as worries about the global economic outlook pressured commodity prices and investors assessed minutes from the Bank of Canada's recent policy decision. The loonie was trading 0.1% lower at 1.3645 to the greenback, or 73.29 U.S. cents, after touching its weakest level since March 28 at 1.3651. A number of factors have weighed on the currency, including a dip in risk appetite and lower commodity prices, said Amo Sahota, director at Klarity FX in San Francisco.