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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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