The Canadian Dollar (CAD) backslid again on Wednesday, shedding another percent against the Greenback.
The Canadian Dollar fell further on Wednesday, shedding another half of a percent. Canada remains hamstrung on the economic calendar until Friday’s labor print. Analysts expect another 50 bps rate cut from the BoC. The Canadian Dollar backslid again on Wednesday, shedding another percent against the Greenback. The US Dollar continues to gain ground across the board, with a notable lack of broad-market CAD bullishness sending the Loonie into multi-week lows.
Other factors include market sentiment – whether investors are taking on more risky assets or seeking safe-havens – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD reclaims seven-week high near 1.3650 amid weak Canadian DollarThe USD/CAD pair recaptures a seven-week high near 1.3650 in Tuesday’s European session.
Read more »
USD/CAD: CAD drifts back to the upper 1.35sThe Canadian Dollar (CAD) is drifting back to very familiar ranges this morning.
Read more »
Canadian Dollar climbs into higher ground as markets move out of the wayThe Canadian Dollar (CAD) gained ground on Tuesday, testing multi-month highs against the softening Greenback.
Read more »
Canadian Dollar falls further as Canadian Trade Balance contractsThe Canadian Dollar (CAD) shed another quarter of a percent against the Greenback on Tuesday, trimming lower slipping back against the US Dollar for a fifth straight trading day.
Read more »
Canadian Dollar middles as bullish momentum goes on hiatusThe Canadian Dollar (CAD) settled into familiar territory in the midrange on Tuesday after unimpressive Canadian Consumer Price Index (CPI) inflation data failed to spark a bid in CAD flows.
Read more »
USD/CAD: CAD holds range for nowThe FOMC decision failed to shake the CAD out of its broad range.
Read more »