Canadian dollar

14 Jan

Canadian Dollar Slips as Stock Weakness, Wider Yield Gap Weigh on Loonie

Rajeev Sharma0 CommentsCanadaCanadian dollar, Iran unrest, loonie, oil prices, stock market decline, US dollar, yield spread

Toronto (Rajeev Sharma): — The Canadian dollar edged lower against the US dollar on Tuesday as falling equity markets and a widening gap between Canadian and US bond yields pressured the commodity-linked currency. The loonie was trading 0.1 per cent lower at 1.3890 to the US dollar, or 71.99 US cents, after moving within a range of 1.3857 to 1.3898 during the session. Market participants pointed to a risk-off mood in global markets as a key factor behind the weakness. “Stocks have given it up and it feels to me like this is a bit of Iran fears picking up,”…

09 Jan

Canadian Dollar Holds Near Monthly Low as Global Tensions and Jobs Data Weigh on Sentiment

Rajeev Sharma0 CommentsCanadaCanadian dollar, commodity currencies, loonie, US dollar

Toronto (Rajeev Sharma): The Canadian dollar traded largely flat against its US counterpart on Thursday, hovering near a one-month low as rising geopolitical uncertainty pressured commodity-linked currencies and investors waited for key domestic employment data. The loonie was last seen at 1.3865 per US dollar, or 72.12 US cents, after touching its weakest intraday level since December 5 at 1.3888. Market analysts attributed the muted movement to a broader shift in risk sentiment. With global tensions increasing, investors have been trimming exposure to risk-sensitive currencies such as the Canadian dollar. Canada’s heavy reliance on commodities, particularly oil, has added to…