Partner Center Find a Broker

The Canadian dollar was under pressure for most of the week with geopolitical and central bank themes driving down risk sentiment. Canadian data also added to the weakness with jobs and housing data disappointing Loonie bulls.

Overlay of CAD Pairs: 1-Hour Forex Chart
Overlay of CAD Pairs: 1-Hour Forex Chart

Canadian Headlines and Economic data

Monday:

Tuesday:

Wednesday:

  • A broadly lower session for CAD, mainly on increasing risk-off sentiment on global growth fears that were so strong that central banks have begun starting to cut rates around the world. It’s also likely that the Loonie felt pressure from oil prices, falling on the same risk-off sentiment and the increase in U.S. crude inventory. Check out the chart below of oil:
Overlay of CAD/USD & Oil (Black Line): 1-Hour Forex Chart
Overlay of CAD/USD & Oil (Black Line): 1-Hour Forex Chart

Thursday:

Friday: