News

Canadian Dollar Hits Eight-Week Low
The Canadian dollar weakened to 1.39 per USD in early June, its lowest level in eight weeks, as escalating trade tensions and renewed conflict in the Middle East boosted demand for the US dollar. Tensions in the Gulf intensified after Iranian attacks on Kuwait, while US strikes near the Strait of Hormuz and limited diplomatic progress clouded prospects for a resolution. The stronger greenback pressured major currencies broadly. Domestically, Canada’s economy contracted at an annualized rate of 0.1% in the first quarter, following a revised 1.0% contraction in the previous quarter, highlighting persistent economic weakness. Meanwhile, S&P Global data showed Canada’s services sector returned to modest growth in May. However, firms reported heightened uncertainty linked to Middle East tensions, while higher fuel prices contributed to the fastest increase in operating costs in four years.
Published on 2026-06-04

Canadian Dollar Hits 7-week Low
The Canadian Dollar touched 1.39 against the USD, the lowest since April 2026. Over the past 4 weeks, US Dollar Canadian Dollar gained 1.78%, and in the last 12 months, it increased 1.38%.
Published on 2026-06-03

Canadian Dollar Weakens on Soft GDP Data
The Canadian dollar weakened past 1.378 per USD in late May as weak economic data reinforced expectations of a dovish Bank of Canada. Canada's economy unexpectedly contracted in the first quarter of 2026 from a year earlier, marking a second consecutive quarter of annual decline and highlighting slowing domestic momentum. The data strengthened expectations that the BoC will keep interest rates unchanged, with markets broadly anticipating a hold at the June 10 meeting. Meanwhile, the Bank of Canada’s preferred core inflation measures slowed more than expected to their lowest levels in five years, signaling easing underlying price pressures outside the energy sector. The figures reinforced the central bank’s view that energy-driven inflation may prove temporary and further reduced the likelihood of additional rate hikes, weighing on the loonie.
Published on 2026-05-29

Canadian Dollar Falls to 6-Week Low
The Canadian dollar weakened past 1.382 per USD in late May, its lowest in six weeks, amid a backdrop of soft inflation domestically and risks to growth. The Bank of Canada’s preferred core inflation gauges slowed more than expected to their lowest levels in five years, signaling easing underlying price pressures outside the energy sector. The data reinforced recent guidance from the central bank that energy-driven inflation may prove temporary and reduced expectations of additional rate hikes. Meanwhile, Canada’s GDP is expected to stagnate in the first quarter of 2026, further supporting expectations that the BoC will keep rates unchanged. In contrast, resilient labor market data and firmer core inflation in the US strengthened expectations that the Federal Reserve could raise interest rates again this year, supporting the US dollar.
Published on 2026-05-27

CAD Weakens as Inflation Supports Dovish BoC Outlook
The Canadian dollar weakened to 1.38 per USD in May as softer core inflation data reinforced expectations that the Bank of Canada may continue looking through the impact of higher energy prices. While headline inflation accelerated to 2.8% in April due to rising gasoline costs linked to the Middle East conflict, the Bank of Canada’s preferred core inflation gauges slowed more than expected to their lowest levels in five years, signaling easing underlying price pressures outside the energy sector. The data aligned with recent central bank guidance that energy-driven inflation may prove temporary and reduced expectations of rate hikes. Conversely, robust labor data and higher core inflation in the US raised expectations of a rate hike by the Federal Reserve this year, supporting the US dollar.
Published on 2026-05-19

CAD Weakens as Inflation Supports Dovish BoC Outlook
The Canadian dollar weakened to 1.38 per USD in May as softer core inflation data reinforced expectations that the Bank of Canada may continue looking through the impact of higher energy prices. While headline inflation accelerated to 2.8% in April due to rising gasoline costs linked to the Middle East conflict, the Bank of Canada’s preferred core inflation gauges slowed more than expected to their lowest levels in five years, signaling easing underlying price pressures outside the energy sector. The data aligned with recent central bank guidance that energy-driven inflation may prove temporary and reduced expectations of rate hikes. Conversely, robust labor data and higher core inflation in the US raised expectations of a rate hike by the Federal Reserve this year, supporting the US dollar.
Published on 2026-05-19

Canadian Dollar Extends Pullback
The Canadian dollar weakened slightly to 1.37 per USD, extending its retreat from the seven-week high of 1.358 reached on April 30, as persistent inflation concerns and rising US Treasury yields supported the greenback following hotter-than-expected US inflation data. The latest US CPI report showed headline inflation accelerating to 3.8%, reinforcing expectations that the Federal Reserve may keep interest rates elevated for longer as price pressures broaden across the economy. Additional support for the US dollar came from ongoing geopolitical uncertainty in the Middle East, as limited progress in negotiations involving Iran kept fears alive that disruptions around the Strait of Hormuz could persist. Meanwhile, elevated oil prices continued to limit broader downside pressure on the commodity-linked Canadian dollar.
Published on 2026-05-15

Canadian Dollar Hits 4-week Low
The Canadian Dollar touched 1.37 against the USD, the lowest since April 2026. Over the past 4 weeks, US Dollar Canadian Dollar lost 0.12%, and in the last 12 months, it decreased 1.68%.
Published on 2026-05-14

Canadian Dollar Weakens on Underwhelming Labor Data
The Canadian dollar weakened to 1.37 per USD, extending the pullback from the seven-week high of 1.358 on April 30th following weak domestic labor data. Net employment in Canada unexpectedly fell by 17K jobs in April and the unemployment rate rose to a six-month high of 6.9%, strengthening bets that the BoC will prioritize economic growth and refrain from tightening policy further this year. At the same time, stronger-than-expected US labor data boosted expectations that the Federal Reserve could keep interest rates elevated for longer, backing the preference for the greenback instead of the loonie for North American investors. Meanwhile, investors continued to monitor developments in the Middle East after renewed US-Iran hostilities raised uncertainty over prospects for a deal that could restore oil supply from the region and ease energy inflation.
Published on 2026-05-08

Canadian Dollar Weakens on Underwhelming Labor Data
The Canadian dollar weakened to 1.37 per USD, extending the pullback from the seven-week high of 1.358 on April 30th following weak domestic labor data. Net employment in Canada unexpectedly fell by 17K jobs in April and the unemployment rate rose to a six-month high of 6.9%, strengthening bets that the BoC will prioritize economic growth and refrain from tightening policy further this year. At the same time, stronger-than-expected US labor data boosted expectations that the Federal Reserve could keep interest rates elevated for longer, backing the preference for the greenback instead of the loonie for North American investors. Meanwhile, investors continued to monitor developments in the Middle East after renewed US-Iran hostilities raised uncertainty over prospects for a deal that could restore oil supply from the region and ease energy inflation.
Published on 2026-05-08

Canadian Dollar Steady on Lower Oil and Dovish Outlook
The Canadian dollar weakened toward the 1.36 mark per USD from a seven-week high on April 30th, losing some ground due to the outlook of a dovish Bank of Canada and lower crude oil prices. The US stated that it was close to reaching a peace deal with Iran that would restore oil supply through the Strait of Hormuz. The resulting decline in crude oil prices limited the outlook of foreign exchange inflows to Canada due to lower turnover on oil exports. Meanwhile, the latest round of GDP data flagged a slowdown in the economy following the start of the war, supporting the Bank of Canada's dovish tilt in its guidance, opting to prioritize growth as inflation was not yet entrenched. Preliminary GDP data reflected a stall from the previous month in March despite higher energy output.
Published on 2026-05-07

Canadian Dollar Steady on Lower Oil and Dovish Outlook
The Canadian dollar weakened toward the 1.635 mark per USD from the seven-week high of 1.358 on April 30th, losing some ground due to the outlook of a dovish Bank of Canada and lower crude oil prices. The US stated that it was close to reaching a peace deal with Iran that would restore oil supply through the Strait of Hormuz. The resulting decline in crude oil prices limited the outlook of foreign exchange inflows to Canada due to lower turnover on oil exports. Meanwhile, the latest round of GDP data flagged a slowdown in the economy following the start of the war, supporting the Bank of Canada's dovish tilt in its guidance, opting to prioritize growth as inflation was not yet entrenched. Preliminary GDP data reflected a stall from the previous month in March despite higher energy output.
Published on 2026-05-07

Canadian Dollar Steady on Lower Oil and Dovish Outlook
The Canadian dollar weakened toward the 1.36 mark per USD from the seven-week high of 1.358 on April 30th, losing some ground due to the outlook of a dovish Bank of Canada and lower crude oil prices. The US stated that it was close to reaching a peace deal with Iran that would restore oil supply through the Strait of Hormuz. The resulting decline in crude oil prices limited the outlook of foreign exchange inflows to Canada due to lower turnover on oil exports. Meanwhile, the latest round of GDP data flagged a slowdown in the economy following the start of the war, supporting the Bank of Canada's dovish tilt in its guidance, opting to prioritize growth as inflation was not yet entrenched. Preliminary GDP data reflected a stall from the previous month in March despite higher energy output.
Published on 2026-05-07

Canadian Dollar Hits 7-week High
The Canadian Dollar touched 1.36 against the USD, the highest since the begining of March and heading for its biggest monthly gain since April 2025 as the greenback weakened broadly and investors weighed the impact of higher oil prices on interest rates.The DXY was trading lower for a 2nd session, with losses driven largely by a sharp advance in the yen following suspected intervention by Japanese authorities in currency markets.The CAD was also supported by a slightly less dovish Bank of Canada and high commodity prices. The central bank signaled on Wendesday it could raise rates consecutively if elevated energy prices persist and fuel inflation, prompting markets to reassess the policy outlook.
Published on 2026-05-01

Canadian Dollar Hits 7-week High
The Canadian Dollar touched 1.36 against the USD, the highest since March 2026. Over the past 4 weeks, US Dollar Canadian Dollar lost 2.54%, and in the last 12 months, it decreased 1.73%.
Published on 2026-05-01

Canadian Dollar Hits 7-week High
The Canadian Dollar touched 1.36 against the USD, the highest since March 2026 and heading for its biggest monthly gain since April 2025 as the greenback weakened broadly and investors weighed the impact of higher oil prices on interest rates. The currency was also supported by a slightly less dovish Bank of Canada and high commodity prices. The central bank signaled on Wendesday it could raise rates consecutively if elevated energy prices persist and fuel inflation, prompting markets to reassess the policy outlook.
Published on 2026-05-01

Canadian Dollar Hits 7-week High
The Canadian Dollar touched 1.36 against the USD, the highest since the begining of March and heading for its biggest monthly gain since April 2025 as the greenback weakened broadly and investors weighed the impact of higher oil prices on interest rates.The DXY was trading lower for a 2nd session, with losses driven largely by a sharp advance in the yen following suspected intervention by Japanese authorities in currency markets.The CAD was also supported by a slightly less dovish Bank of Canada and high commodity prices. The central bank signaled on Wendesday it could raise rates consecutively if elevated energy prices persist and fuel inflation, prompting markets to reassess the policy outlook.
Published on 2026-05-01

Canadian Dollar Hits 7-week High
The Canadian Dollar touched 1.36 against the USD, the highest since the begining of March and heading for its biggest monthly gain since April 2025 as the greenback weakened broadly and investors weighed the impact of higher oil prices on interest rates.The DXY was trading lower for a 2nd session, with losses driven largely by a sharp advance in the yen following suspected intervention by Japanese authorities in currency markets.The CAD was also supported by a slightly less dovish Bank of Canada and high commodity prices. The central bank signaled on Wendesday it could raise rates consecutively if elevated energy prices persist and fuel inflation, prompting markets to reassess the policy outlook.
Published on 2026-05-01

Canadian Dollar Hits 7-week High
The Canadian Dollar touched 1.36 against the USD, the highest since the begining of March and heading for its biggest monthly gain since April 2025 as the greenback weakened broadly and investors weighed the impact of higher oil prices on interest rates.The DXY was trading lower for a 2nd session, with losses driven largely by a sharp advance in the yen following suspected intervention by Japanese authorities in currency markets.The CAD was also supported by a slightly less dovish Bank of Canada and high commodity prices. The central bank signaled on Wendesday it could raise rates consecutively if elevated energy prices persist and fuel inflation, prompting markets to reassess the policy outlook.
Published on 2026-05-01

Canadian Dollar Hits 7-week High
The Canadian Dollar touched 1.36 against the USD, the highest since the begining of March and heading for its biggest monthly gain since April 2025 as the greenback weakened broadly and investors weighed the impact of higher oil prices on interest rates.The DXY was trading lower for a 2nd session, with losses driven largely by a sharp advance in the yen following suspected intervention by Japanese authorities in currency markets.The CAD was also supported by a slightly less dovish Bank of Canada and high commodity prices. The central bank signaled on Wendesday it could raise rates consecutively if elevated energy prices persist and fuel inflation, prompting markets to reassess the policy outlook.
Published on 2026-05-01