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USD/CAD (CAD=X)
| Previous close | 1.3743 |
| Open | 1.3744 |
| Bid | 1.3710 |
| Day's range | 1.3672 - 1.3761 |
| 52-week range | 1.2289 - 1.3831 |
| Ask | 1.3710 |
- Reuters
Analysts cut Canadian dollar forecasts as recession risk looms: Reuters poll
The Canadian dollar is set to fall short of a September forecast for the coming year following sharp losses in recent weeks and as interest rate hikes by the Bank of Canada threaten to push the domestic economy into recession, a Reuters poll showed. The currency has weakened around 7% against the U.S. dollar since the start of 2022, but has fared better than other G10 currencies except for the Swiss franc, although most of that decline has come since mid-August. Last Friday, it touched its weakest level in more than two years at 1.3838 per U.S. dollar, or 72.26 U.S. cents.
- Reuters
Canadian dollar slides on wave of U.S. dollar buying
The commodity-linked Canadian dollar weakened against its U.S. counterpart on Wednesday as the greenback broadly climbed and domestic data showed exports falling in August, with the loonie losing ground despite higher oil prices. The Canadian dollar was down 0.7% at 1.36 to the greenback, or 73.53 U.S. cents, after trading in a range of 1.3504 to 1.3695. "It appears to be a wave of broad U.S. dollar buying," said Erik Nelson, a currency strategist at Wells Fargo in New York.
- Reuters
Canadian dollar extends weekly decline as retail sales sag
The Canadian dollar weakened to its lowest level in more than two years against its U.S. counterpart on Friday as the sell-off in global equity markets continued and domestic data showed retail sales falling more than expected in July. Stocks hit two-year lows and the U.S. dollar scaled a two-decade high against a basket of major currencies as investors feared bigger interest rate rises are on their way to tame inflation. Canadian retail sales fell by 2.5% in July from June on lower sales at gasoline stations, as well as clothing and clothing accessories stores, Statistics Canada said.
