Canada Dollar Gains For First Time in 3 Days on Growth Outlook

Shared by Henry

I think Employment release was a plus, but the real support comes from Canada’s proximity to U.S. and the fact that Canadian economy is stable, Bank of Canada is on a rate tightening cycle.
Canada’s dollar rose for the first time i…

Canada G-7’s First to Lift Rate After World Recession (Update2)

Shared by Henry

BOC raised interest rate today and is likely to continue on this policy path for the rest of the year. This is a good sign that U.S. may start to follow suit.
The Bank of Canada raised its key interest rate from a record low today, …

Canadian Growth Was Most in a Decade in First Quarter (Update2)

Shared by Henry

This report and the fact of BOC hiking rates tomorrow should add demand for CAD. Expect some pre-buying.
Canada’s economy expanded at the fastest pace in a decade in the first quarter, led by consumer spending and manufacturing, in…

Oil jumps 3% on upbeat data

Shared by Henry

Crude does seem like a good buy for the time being. USD/CAD may remain pressured to the downside as both Crude Oil and BOC are expected to support CAD.
Oil prices rose more than 3%, topping $72 a barrel on Tuesday, up from the previo…

Oil prices extend gains

Shared by Henry

This was released yesterday, seems like market may be supporting CAD, adding the BOC sentiment of hiking interest rate sooner than June, we could see CAD strength continues.
Oil prices inched higher on Wednesday as a surprise drop in…

Bank of Canada Signals G-7’s First Rate Increases (Update3)

Shared by Henry

This may play well into the strength for CAD, although I think parity with USD for the time being should keep CAD in check.
The Bank of Canada signaled it may be first in the Group of Seven to increase borrowing costs, joining other …

Loonie closes above par for first time since May, 2008

Shared by Henry

USD/CAD traded and closed below parity today. Very strong bullish sign for CAD as we could see market head towards 0.99~9700 area in the next few days.
The Canadian dollar closed Wednesday above parity with U.S. currency for the fir…

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