• Reuters

    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.

  • Reuters

    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.

  • Reuters

    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.

  • FX Empire

    The Future of Forex: ChatGPT’s Role in Shaping the Currency Trading Landscape

    Artificial Intelligence (AI) has been a hot topic in the world of trading for decades. Will AI ever be able to outperform humans in making potentially profitable decisions?

  • Reuters

    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.

  • Reuters

    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.

  • Reuters

    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.

  • Reuters

    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.

  • Reuters

    CANADA FX DEBT-Jobs data helps lift CAD to biggest gain in four months

    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. "It smashed expectations and pointed to resilience in the underlying economy, and will almost certainly narrow interest rate differentials against the U.S. on the front of the curve by lowering the likelihood of rate cuts by the Bank of Canada and pushing those into 2024 at the earliest."

  • Bloomberg

    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

  • Reuters

    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.

  • Reuters

    CANADA FX DEBT-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. The price of oil, one of Canada's major exports, settled 0.1% lower at $68.56 a barrel but clawed back much of its earlier decline. "The one thing that Canada has got going for it is how aggressive the market is pricing in Fed rate cuts," Chandler said.

  • Reuters

    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.

  • Reuters

    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.

  • Reuters

    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.

  • Reuters

    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.

  • Reuters

    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.

  • Financial Post

    Posthaste: Should we be worried about our weak Canadian dollar whipping up inflation?

    We are not as dependent on the almighty greenback as we once were

  • Financial Post

    Posthaste: Should we worried about our weak Canadian dollar whipping up inflation?

    We are not as dependent on the almighty greenback as we once were

  • Reuters

    CANADA FX DEBT-Profit-taking pressures Canadian dollar to 8-day low

    The Canadian dollar edged lower against its U.S. counterpart on Thursday as oil prices fell and investors took some profit after recent moves higher for the currency. The loonie was trading 0.1% lower at 1.3475 to the greenback, or 74.21 U.S. cents. After an "aggressive move" higher there is bound to be some profit-taking, said Bipan Rai, global head of FX strategy at CIBC Capital Markets.

  • Reuters

    Profit-taking pressures Canadian dollar to 8-day low

    TORONTO (Reuters) -The Canadian dollar edged lower against its U.S. counterpart on Thursday as oil prices fell and investors took some profit after recent moves higher for the currency. The loonie was trading 0.1% lower at 1.3475 to the greenback, or 74.21 U.S. cents. After an "aggressive move" higher there is bound to be some profit-taking, said Bipan Rai, global head of FX strategy at CIBC Capital Markets.

  • Reuters

    Canadian dollar consolidates recent gains as inflation cools

    TORONTO (Reuters) -The Canadian dollar was barely changed against its U.S. counterpart on Tuesday, with investors taking stock of recent gains for the currency as domestic data showed inflation cooling to the lowest level in 19 months. Still, the currency has advanced more than 3% since mid-March as the price of oil, one of Canada's major exports, rallied and stress in the global banking sector eased. The currency "is taking a little bit of time to consolidate its gains," said Michael Goshko, senior market analyst at Convera Canada ULC.

  • FX Empire

    Weekly Roundup: Dollar’s Selloff Continues After Lower Inflation

    This article evaluates the possible continuing impact of the data on expectations for monetary policy and two key charts of the week, USDCAD and USDCHF

  • Reuters

    Canadian dollar rises as BoC plays down rate cut bets

    TORONTO (Reuters) -The Canadian dollar strengthened against its U.S. counterpart on Wednesday, as U.S. inflation data weighed on the greenback and the Bank of Canada pushed back against bets that it would shift to cutting interest rates this year. "The Bank of Canada wants to have the focus still pretty much on what's happening with inflation," said Amo Sahota, director at Klarity FX in San Francisco. The Canadian dollar was up 0.2% at 1.3435 to the U.S. dollar, or 74.43 U.S. cents, after trading in a range of 1.3429 to 1.3489.

  • Reuters

    Canadian dollar dips as investors shrug off jobs gain

    TORONTO (Reuters) -The Canadian dollar edged lower against its U.S. counterpart on Thursday as investors doubted that stronger-than-expected domestic jobs data would spur the Bank of Canada to abandon its pause on interest rate hikes. The Canadian dollar was trading 0.1% lower at 1.3470 to the greenback, or 74.24 U.S. cents, after moving in a range of 1.3448 to 1.3505. Canada's economy added 35,000 jobs in March, eclipsing forecasts of a 12,000 gain, and the jobless rate remained near a record low, signaling economic resilience.