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 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.).
It's been an ugly few weeks for the loonie. Stephen Poloz and Janet Yellen last week collectively smacked the battered Canadian dollar down two cents, sending it to a new five-year low of $0.8876 on Thursday. According to economists and analysts, there ...
�This relative dovishness reinforces our view that the Canadian dollar likely has further to fall in the near-term, additionally supported by a weaker commodity price outlook,� wrote TD Bank chief economist Craig Alexander in a note on Wednesday.
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 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.
Canadian exporters may benefit this year from a weaker currency and quicker economic growth in the U.S. Three-quarters of Canada's exports were shipped to the U.S. in 2013, while the currency weakened 6.4% over the last six months through Wednesday.