Archive for the ‘Canadian Dollar’
Canadian Dollar Weakened By Poor US & Canadian Employment
The Canadian dollar fell today as the employment reports from Canada and the US, the largest Canada’s trading partner, were worse than predicted, decreasing demand for the Canadian currency. The Canadian employment grew by 15,000 in November, following the 3,000 growth in the month before. The market participants expected the increase by 20,200 jobs. The unemployment rate decreased, though, from 7.9 percent to 7.6 percent. The Canadian currency was more influenced, perhaps, by the US nonfarm payrolls, [...]
Unemployment rate in Canada rises to 8% in July vs 7.9%
The Unemployment Rate in Canada increased to 8% in July, after a previous reading at 7.9%. Experts had previously called for a flat 7.9%. The data cast a shadow on the 0.1% reduction seen in the last June reading. The number of unemployed workers in Canada had a net change of -9.3K in July, compared [...]
Bank of Canada Raises Rate, CAD Reacts Positively
The Canadian dollar rose against all major currencies after the country’s central bank decided to increase the target overnight rate to 3/4 percentage point on its meeting today. The Bank of Canada announced in its statement that the interest rate is increased from 0.50 percent to 0.75 percent today. Although this decision has been expected by the majority of the market analysts, the resulting positive effect for the Canadian dollar was rather strong — [...]
CAD extends rally across the board
The Loonie extended its gains across the board supported by a better-than-expected Canadian job report. USD/CAD plummeted to 1.0305, reaching the lowest price in two weeks. The pair has fallen so far more than 120 pips since the release of the report. Below 1.0300 the next support levels lie at 1.0260; 1.0220 and 1.0180 (June [...]
Canada’s unemployment rate falls unexpectedly to 7.9%
The unemployment rate in Canada dropped by 0.2% compared to a previous reading at 8.1%. The number caught the whole market off guard as analysts expected the rate to hold unchanged at 8.1%. The number of employed people rose by 93.2 K, thus having direct implications on its domestic currency which skyrocketed against its major [...]
Canadian Dollar Gains with Rebound on Global Markets
The Canadian dollar rose today against its U.S. counterpart and some other currencies as the growth of the global stocks and the advance of the commodities increased the attractiveness of the growth-related currencies. The loonie, as the Canadian currency is commonly nicknamed because of the image of the waterfowl on the C$1 coin, as the currency, tied to growth, has tendency to rise and fall with the equities and the commodity prices. Therefore, today’s rebound on the global markets was positive for the currency. September futures for copper rose [...]
Canadian Dollar Drops on Outlook for Rates & Growth
The Canadian dollar declined today amid the concerns for the economic recovery, which prompted the traders to cut the bets on the increase of the interest rates by the central bank. The concerns were strengthened by the U.S. nonfarm payrolls, which dropped to 125,000 in June, compared to the expected decline by 106,000. The Canadian economy hasn’t showed the very good results either, as its growth had stalled in April. August delivery for crude oil, the main nation’s export, dropped by $1.18 cents [...]
Canadian Dollar Is Safe Now
As the U.S Dollar is weak due to the economic growth slower than expected and the unsolved problem of EURO, we can see that strength of Canadian Dollar which tend to be stronger than US. It is a good beginning that everyone can turn their eyes on.