Some observers believe the central bank has attempted to talk down the loonie, as Canada's dollar coin is known. The Bank of Canada says it does no such thing and that the currency, which now stands at about 91 cents (U.
The Canadian dollar gained almost half a percentage point to trade above the 91.50 cents US level Tuesday morning - its highest level since the middle of February (although some of that is likely related to weakness in the U.S.
For the first time this year, the loonie is showing signs of a turnaround, says Gluskin-Sheff chief economist David Rosenberg. The Canadian dollar has had a rough year so far, dropping 3.3% against its U.S. counterpart, the worst performance among 16 ...
The latest numbers from the U.S. Commodities Futures Trading Commission - these are readings taken on Tuesdays and made public on Fridays - show the net short positions in the Canadian dollar being cut by more than half to $3.3-billion (U.S.).
TORONTO - The Canadian dollar was lower Wednesday despite a better than expected reading on retail sales during February. The loonie was down 0.11 of a cent to 90.57 cents US as Statistics Canada said sales rose 0.5 per cent to $41 billion.
The Canadian dollar's respite from recent heavy selling will only be temporary as a sluggish domestic economy and a dovish central bank stance are expected to drag the currency lower, a Reuters poll released on Wednesday showed.