The Canadian dollar weakened against its U.S. counterpart on Friday as investors took advantage of a jump in the currency after stronger-than-expected domestic jobs data to add to bearish bets, with the loonie extending this week's decline. The loonie was trading 0.2% lower at 1.2829 to the greenback, or 77.95 U.S. cents, after touching its weakest level since Sept. 21 at 1.2846. "We have seen a swift move lower in risk appetite ever since the stock market opened," said Erik Bregar, an independent FX analyst.

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03 Dec, 2021 / 21:19

The U.S. Employment rate declined more than expected

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03 Dec, 2021 / 21:02

USD/CAD is testing the resistance level at 1.2825.

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03 Dec, 2021 / 16:59

Analysts are sticking with bullish forecasts on the Canadian dollar despite uncertainty related to the Omicron COVID-19 variant, expecting oil prices to rebound and the Bank of Canada to hike interest rates before the U.S. Federal Reserve. The median forecast in a Reuters poll of 32 strategists was for the Canadian dollar to strengthen 2.4% to 1.25 per U.S. dollar, or 80 U.S. cents in three months, compared to 1.24 in last month's forecast. "We expect the Bank of Canada to raise rates ahead of the Fed next year and expect oil prices will rebound from where they are presently," said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets in New York.

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03 Dec, 2021 / 10:39

The dollar formed a doji day which is a sign of indecision

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02 Dec, 2021 / 21:15

The Canadian dollar strengthened slightly against the greenback on Thursday but held near its lowest level in over two months, as investors assessed the global economic impact of the Omicron coronavirus variant and looked ahead to domestic data. The Canadian dollar was trading 0.1% higher at 1.2807 to the greenback, or 78.08 U.S. cents, after touching intraday 1.2837, which was the 10-week low it hit on Tuesday. "We've got ongoing uncertainty from the Omicron scare, uncertainty related to U.S. politics heating up as we get close to deadlines on all kinds of stuff," said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets.

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02 Dec, 2021 / 21:05

USD/CAD failed to settle below 1.2780 and rebounded towards the resistance level at 1.2825.

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02 Dec, 2021 / 16:38

Eurozone unemployment and U.S weekly jobless claims figures will be in focus today. While the stats will influence, COVID-19 news updates will likely remain the key driver.

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02 Dec, 2021 / 01:22

ISM manufacturing rises more than expected

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01 Dec, 2021 / 21:40

USD/CAD is currently trading in the 1.2760 ā€“ 1.2780 range.

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01 Dec, 2021 / 16:47