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- TORONTO, Oct 7 (Reuters) - There is less room for the Canadian dollar to gain ground over the coming year as analysts expect the prospect of slower global economic growth and accelerating inflation to undermine support from higher oil prices.
www.reuters.com/world/americas/canadian-dollar-upside-seen-shrinking-if-global-economic-recovery-slows-2021-10-07/Canadian dollar upside seen shrinking if global economic ...
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6 days ago · The exchange rate with the US dollar has floated in the C$1.34-C$1.38 range for most of 2024, only recently surpassing the top end following the Bank’s half-point rate cut. For that reason, Reid cautions that there’s now an expectation that the Canadian dollar might see heightened volatility over the next year.
Jul 24, 2024 · The Bank of Canada lowered its key interest rate for the second time this year to 4.5 per cent. Here's what the decision means for the Canadian dollar.
- Euro
- Japanese Yen
- British Pound
- Canadian Dollar
- Conclusion
The euro has underperformed our expectations over the past few months, unable to push beyond January’s 1.2350 high and falling to 1.1700 in mid-August. Aside from temporary U.S.-dollar strength, another reason for the euro’s recent weakness is the ECB’s differing approach to monetary policy compared with central banks in the U.S. and Canada. While ...
Japan has enjoyed a stable current-account surplus for years, a positive inflow that is only partially offset by capital leaving the country to finance foreign direct investment (Exhibit 13). The swing factor in the balance of payments comes in the form of newfound demand for Japanese assets. Domestic investors seem more enthusiastic about Japanese...
The British pound has not been among our favourite currencies over the past few years due to Brexit uncertainty, a sizable current-account deficit and a lack of competitiveness relative to its largest trading partners. This pessimism has softened, perhaps more from our bearish outlook on the U.S. dollar than for any U.K.-specific reasons. The macro...
The Canadian dollar has fallen 5% since the beginning of June. Weaker global economic data and broad U.S.-dollar strength are partly to blame for the depreciation, though can’t fully explain it. Even with the decline, the Canadian dollar is the best-performing G10 currency this year, and statistical models (Exhibit 16) suggest the currency should s...
Support from a few short-term themes helped the U.S. dollar trade sideways this year within a very tight 4% band. We believe that the greenback remains in a longer-term downtrend, however, and that further weakness will persist in the years ahead. The dollar decline should be most helpful for cyclical currencies that benefit from rising commodity p...
6 days ago · Canada’s currency sunk below 72 cents US this week for the first time in more than four years, breaking through the 72 to 76 cent band it has been trading within in recent months. It closed Tuesday at 71.89 cents US after falling just under 72 cents on Monday. As of midday Wednesday it had inched a little lower, to 71.85 according to XE.com.
Sep 16, 2022 · The Canadian dollar was changing hands for as little as 75.15 cents US at one point on Friday morning. That's the lowest level for the currency since October 2020. The loonie was off by about...
Oct 22, 2021 · Last quarter, in less than two months, the Canadian dollar lost nearly 10 cents in value. In June 2021, the loonie held a relatively strong position at US$1.20, but in August, it had weakened to US$1.29. “A funny creature, the loonie,” says National Bank economist Kyle Dahms.
Wondering where the Canadian dollar will go in 2021? Will oil prices continue to affect the valuation? Check out our outlook on the value of the loonie.
