Post Tagged with: "canadian dollar"
QE3 in March has Little Chance
A new jobs report in the US and a deterioration in Europe could still push Bernanke to ease in March, but the chances are very low now. Regarding Greece, it is hard to fully price any outcome of the current round of the crisis, as there are too many moving parts that make the situation
Canadian Rate Unchanged – USD/CAD Ticks Down on Positive Economic Assessment
As expected, the Bank of Canada left the interest rate unchanged at 1%. Mark Carney and his colleagues didn’t move this time, but the assessment about Canada’s current situation was good. In the statement accompanied to the decision, the BOC mentioned the growing worries for the global economy, but also discussed an improvement in the
Canadian Dollar Strengthens on Strong Inflation
The Canadian dollar is making significant gains against the US dollar, with USD/CAD falling towards 1.01. Consumer prices are on the rise in Canada: CPI rose by 0.2%, exceeding expectations for a 0.1%. The bigger surprise came from Core CPI. It jumped by 0.5%, much more than 0.2% that was expected. Core CPI excludes the
Canada Began Q3 With Good Growth – Loonie Unexcited
The Canadian dollar managed to recover against the US dollar before the release of Canadian GDP, and now makes a small retreat as Canada prints 0.3% growth in the month of July, the first month of Q3, exactly as expected. Putting expectations aside, this is a nice growth rate, but it didn’t exceed expectations. These
USD/CAD Plays With Parity Again – Will Bernanke Disappoint?
The Canadian dollar is losing ground once again, and flirting with parity against the greenback. The move comes ahead of the all important FOMC decision later on. Is the market expecting a disappointment from Bernanke? Bernanke and his colleagues at the US central bank are expected to announce new measures of monetary stimulus in order
USD/CAD Hits Parity on Greek Troubles, Global Slowdown
The Canadian dollar is weaker than the US dollar once again. The growing fear that Greek will default, as well as other local economic worries weigh on the loonie as the greenback surges across the board. If the break is confirmed, USD/CAD will struggle to move higher, as the next resistance line is close. Update
USD/CAD Retreats on Surprising Drop in Canada’s Unemployment Rate
The Canadian job market gained only 7,100 jobs in July, weaker than a gain of almost 18K that was expected, and lower than last month’s gain. But on the other hand, the unemployment surprised with a drop to 7.2%, lower than 7.4%, that was predicted. The Canadian dollar is now retreating from resistance. The significant
USD/CAD At Fresh Multi-Year Low
USD/CAD fell to levels last seen at the fall of 2007, long before the financial crisis. Canadian strength got it close to these levels, and the European optimism send it below. Where will it go from here? Dollar/CAD is now at 0.9435, below the trough of 0.9448 at the end of April. It already dipped
USD/CAD Falls From Resistance on Lower Unemployment Rate
The Canadian economy gained 22,300 jobs in May, within expectations. A significant surprise to the upside came from the unemployment rate, which fell once again, from 7.6% to 7.4%. USD/CAD, which was challenging resistance before the release, is now heading down. While the gain of over 22K was expected, it is important to note that
USD/CAD Edges Up After Rate Decision
As expected, the Bank of Canada left the Overnight Rate unchanged. This decision, that contained concerns about the strength of the Canadian dollar, was widely expected by the markets. USD/CAD is trading slightly higher, under the resistance line. The rate statement that was released with the rate decision, talks about inflationary pressures from commodity prices,