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December 24th, 2012
Canadian Dollar Futures – The Canadian dollar rose against the majority of its most traded peers with investors optimistic about the country’s economic prospects even with the risk that the nation’s largest trading partner may enter a recession.
The Canadian currency gained against its American counterpart after the U.S. Congress recessed for the Christmas holiday with only a week left to negotiate a deficit-cutting plan to avoid automatic tax increases and spending cuts set to take effect Jan. 1 which may trigger an economic contraction. Even with the U.S. budget debate, figures released late last week show traders remain optimistic on the longer-term prospects of the Canadian currency.
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September 7th, 2012
Canadian Dollar Futures – The Canadian dollar rose to an almost one-year high versus its U.S. peer as domestic employers added more jobs than forecast, adding to speculation Bank of Canada Governor Mark Carney will raise its target interest rate.
The Canadian dollar gained as U.S. government reports showed payrolls increased less than projected in August and the unemployment rate declined as more Americans left the labor force, adding to speculation the Federal Reserve will soon seek to stimulate economic growth with asset purchases under its quantitative-easing strategy. Stocks rose on increased appetite for higher-yielding assets.
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May 1st, 2012
Canada’s dollar futures fluctuated against its U.S. counterpart after the Reserve Bank of Australia cut interest rates more than economists had predicted, casting doubt on the timing of rate increases by the Bank of Canada.
The Canadian currency rose last month, touching a seven- month high, after policy makers suggested borrowing costs would rise amid stronger inflation and economic growth. It fell yesterday after a government report showed the nation’s gross domestic product unexpectedly shrank in February.
“The combination of weaker GDP and a more aggressive RBA than people had thought has damped expectations for Canadian interest-rate increases,” said Camilla Sutton, head of currency strategy at Bank of Nova Scotia (BNS) in Toronto, in a telephone interview. “That’s keeping the Canadian dollar unchanged.”
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April 25th, 2012
Canadian dollar futures – Canada’s dollar strengthened to a seven-week high against its U.S, counterpart on speculation equities gains signal the global growth outlook is improving.
Canadian dollar futures rallied against most of its major peers and is headed for a 1.3 percent gain this month versus the greenback, trailing only the yen. Canada has the second-fastest gross domestic product growth after Germany among Group of Seven nations and may be the first to raise interest rates later this year, swaps trading shows.
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