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The Canadian dollar had a choppy week on mixed Canadian economic updates, but ended up net negative as surprise geopolitical events on Friday rocked traders into hitting the sell buttons on the Loonie and oil into the weekend.

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

Canada Headlines and Economic data

Monday:

Tuesday:

Wednesday:

  • Canada CPI rises +0.5% m/m, +2.0% y/y – this update was both better-than-expected and better-than-previous reads, reducing the probability of a need for the BOC to cut interest rates and sparking the broad move higher in Loonie pairs.

Thursday:

Friday: