The Canadian dollar weakened to its lowest level in more than two years against its U.S. counterpart on Friday as the sell-off in global equity markets continued and domestic data showed retail sales falling more than expected in July. Stocks hit two-year lows and the U.S. dollar scaled a two-decade high against a basket of major currencies as investors feared bigger interest rate rises are on their way to tame inflation. Canadian retail sales fell by 2.5% in July from June on lower sales at gasoline stations, as well as clothing and clothing accessories stores, Statistics Canada said.

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23 Sep, 2022 / 13:47

In continuation of our series, "What to do in a bear market," Yahoo Finance asked the experts what investors should keep in mind given the market downturn.

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16 Sep, 2022 / 20:15

TORONTO (Reuters) -The Canadian dollar weakened to its lowest level in nearly two years against the greenback on Friday and Canada's stock market fell as investors grew cautious ahead of domestic inflation data and a Federal Reserve interest rate decision next week. The Canadian dollar was trading 0.3% lower at 1.3270 per U.S. dollar, or 75.36 U.S. cents, after touching its weakest since November 2020 at 1.3307. It follows hotter-than-expected U.S. inflation data on Tuesday that spooked financial markets globally and pushed the U.S. dollar sharply higher against a basket of major currencies.

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16 Sep, 2022 / 19:37

(Bloomberg) -- Foreign-exchange markets took a risk-averse turn Thursday, sending the Canadian dollar to its weakest against the greenback in almost two years and Australia’s currency close to the lowest since the early months of the Covid pandemic.Most Read from BloombergAdobe Near Deal for Online Design Startup Figma, Sources SayRay Dalio Does the Math: Rates at 4.5% Would Sink Stocks by 20%Putin Acknowledges Xi’s ‘Concerns’ on Ukraine, Showing TensionAdobe Tumbles After Deal to Buy Figma for

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15 Sep, 2022 / 21:46

The Canadian dollar rallied against its broadly weaker U.S. counterpart on Monday as oil prices rose and investors continued to bet on another oversized interest rate hike by the Bank of Canada despite disappointing Canadian jobs data last week. The price of crude oil, one of Canada's major exports, rebounded from a six-month low it hit on Friday as positive economic data from China and the United States fed hopes for demand. U.S. crude oil futures settled nearly 2% higher at $90.76 a barrel, while the Canadian dollar was trading 0.5% higher at 1.2860 to the greenback, or 77.76 U.S. cents.

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08 Aug, 2022 / 19:23

Analysts expect the Canadian dollar to rally over the coming year, betting the threat of recession will ease as the U.S. Federal Reserve and the Bank of Canada likely wind down rate-hike cycles in 2023, a Reuters poll showed. "USD strength comes from both Fed rate hikes as well as fears that those hikes will provoke a recession in 2023," said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets in New York. "If and as those fears fade in 2023, with the Fed and BoC going on hold, the USD should fade lower and USD-CAD should revert toward its long-run average, and where it should be based on excellent Canadian currency fundamentals."

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04 Aug, 2022 / 09:19

The Canadian dollar strengthened against the greenback on Wednesday as worries about a possible recession eased following encouraging economic data from the United States, Canada's largest trading partner, offsetting a slide in oil prices. Wall Street rallied as data showed that the U.S. services sector rebounded unexpectedly in July and orders for U.S.-manufactured goods increased solidly in June. "The economic data broadly came in higher than expected as the service part of the economy seems to be stabilizing and price pressures are improving," Edward Moya, a senior market analyst at OANDA in New York, said in a note.

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03 Aug, 2022 / 20:38

The Canadian dollar edged lower against its broadly stronger U.S. counterpart on Tuesday as investors weighed rising tensions between the United States and China, but the currency's decline was limited as oil prices moved higher. It was the smallest decline among G10 currencies. U.S. stocks were mixed in choppy trading, while the safe-haven U.S. dollar rallied against a basket of major currencies as comments by Federal Reserve officials suggested more interest rate hikes are coming in the near term and China condemned a visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi.

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02 Aug, 2022 / 20:35

Loonie could reach 80 cents by end of year — or not

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02 Aug, 2022 / 18:58

A surprise 50 bps ECB rate hike and restart of Russian gas flows to Germany could boost the euro.

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20 Jul, 2022 / 18:42