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canadian dollar: Canada’s Dollar Appreciates as Crude Oil Rises, Equities Gain - 05/04/10 08:50 AM
On May 3 Canada’s dollar rose versus the greenback as U.S. stocks climbed, crude oil reached $87 a barrel and gold touched the highest level since December.
The currency has been the second-best performer this year among the U.S. dollar’s 16 most-traded counterparts, trailing Mexico’s peso, on speculation Canada’s central bank will raise borrowing costs either at its next policy meeting on June 1 or the following one in July.
The currency appreciated 0.7 percent to C$1.0107 per U.S. dollar at 4:12 p.m. in Toronto, extending its gain in 2010 to 4.2 percent. It closed at C$1.0179 on April 30. One … (0 comments)

canadian dollar: Canadian Dollar at par with US Dollar - 04/06/10 12:11 PM
It seems like yesterday when the Canadian Dollar was at par with the US Dollar. It took less than 2 years for the exchange rate to equalize again. But what does this mean for the Canadian economy?
Generally, the lower the value of the Canadian dollar, the more Canada was trading. When the dollar was at par in July 2008 it reflected a weakening economy in Canada. But is that still the case?  More than ever Canada's economy is strong in comparison to markets with which we are trading.
In terms of trade a strong dollar weakens Canada's selling points, but could a strong … (3 comments)

canadian dollar: National News: Loonie rises to highest level since July 2008 - 03/17/10 08:23 AM

TORONTO -- The Canadian dollar rose to its highest level since July 2008 on Tuesday after the U.S. Federal Reserve held benchmark interest rates near zero, as expected, and renewed its promise to keep them exceptionally low for an extended period.
Building on momentum from firmer oil and equities prices and stronger-than-expected domestic economic data, the Canadian dollar rose as high as $1.0135 to the U.S. dollar, or 98.67 U.S. cents, after the U.S. central bank's decision.
Tuesday's rise marked the resumption of the currency's upward march after pausing on Monday as investors took a break after an 11-day stretch … (0 comments)

canadian dollar: Bloomberg Update on Canadian Dollar Trades - 03/11/10 08:21 AM
Canada Dollar Trades Near Five-Month High on Growth Outlook
Canada's dollar traded near its strongest level in almost five months as investors bet the nation's economy will be among the strongest during the recovery...  
With trade data out tomorrow ahead of Friday's employment data, a lot of players may be in ‘wait and see' mode given much of this dollar-Canada move has been on more bullish Bank of Canada rate expectations," Sacha Tihanyi, a currency strategist at Bank of Nova Scotia in Toronto, wrote in an e-mail. "A very good employment print will push these expectations and help drive dollar-Canada even … (0 comments)

canadian dollar: Canadian Central Bank Lowers Rate to 2.25 percent - 10/21/08 11:06 AM
The Canadian Central Bank cut rates today by a quarter point to 2.25%.
This rate cut today by the Bank of Canada was left than the half point cut expected by some economists.  The reaction to this was also seen by the Canadian Dollar... falling to a three-year low following today's announcement.
It will be interesting to see how various Canadian financial institutions react today to the news... in terms of their prime rates and mortgage rates.
The Central Bank commented however that it would likely have to lower rates further to combat the effects of the global financial crisis.  "In line with … (0 comments)

canadian dollar: Bank of Canada cuts rates by 0.25 percent - 10/21/08 11:02 AM
The Canadian Central Bank cut rates today by a quarter point to 2.25%.
This rate cut today by the Bank of Canada was left than the half point cut expected by some economists.  The reaction to this was also seen by the Canadian Dollar... falling to a three-year low following today's announcement.
It will be interesting to see how various Canadian financial institutions react today to the news... in terms of their prime rates and mortgage rates.
The Central Bank commented however that it would likely have to lower rates further to combat the effects of the global financial crisis.  "In line with … (2 comments)

canadian dollar: Canadian Dollar vs US Dollar and the Price of Oil - 10/16/08 09:16 PM
Many people were wondering last week why the Canadian Dollar started to lose value against the US Dollar, when it appears that the USA was in greater crisis mode in comparison to Canada.
Well here is why....
Canada is one of the world's largest producers of oil and holds oil reserves second only to Saudi Arabia, which makes Canada very reliant on its most prized commodity.  It is also the largest supplier to the world's biggest oil consumer - the United States.  Therfore, rising oil prices tend to be good for Canada/bad for the U.S., while falling oil prices tend to be bad … (0 comments)

 
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Gina Burgio

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