Oil prices surged more than 10% as massive uncertainty sparked by Russia's invasion of Ukraine. Canadian dollar gains as economy seen growing in January after strong fourth quarter. Market price in a 0.25% rate hike from Bank of Canada. The Loonie pair pulls back from the bullish trend on Wednesday, The rationale behind this [...]
US dollar trades low against the Canadian dollar during the Friday Asian session. The weakness of the quote USD/CAD can be related to the mildly bid oil prices. However, Favorable US job data, thin liquidity conditions and an absence of major data/might restrict the pair's move. Canada’s main export item, WTI crude oil prices add [...]
USD/CAD hovers around 1.2590 during Friday’s Asian session. The pair has refreshed the multi-day peak on Thursday. Rebound of US dollar and bank holiday in Canada underpinned this move. The strength of the US dollar can be linked to the Fed rate hike chatters and the sluggish prices of Canada’s main export item, WTI crude [...]
The Canadian dollar is strong against greenback due to the upbeat Canadian economic data and greenback decline. A mixture of rising oil prices and rising Canadian wholesale sales for March has provided a boost for the Canadian Dollar. Loonie seems to be strong this week after Canada’s wholesale transactions beat forecasts and rose by 2.8% [...]
