Iraqi Dinar News

Trade Iraqi Dinar

Posts tagged: Canadian

Canadian Dollar Retain Strength

By , August 28, 2014 4:50 am

Canadian coins on Canadian dollar billsLoonie is retaining some of its recent strength in Forex trading, logging gains on the Burger King plan to buy Tim Hortons, as well as getting some help from expectations for positive economic data, due out tomorrow.

Canadian dollar is getting a boost from high expectations right now. While some believe that the loonie is overvalued, right now the currency is doing reasonably well against most of its major counterparts.

Loonie got a big boost yesterday, thanks in large part to the news that Burger King is planning to buy coffee and donut chain Tim Hortons. The deal will go down in Canadian currency, so many expect demand for loonies to rise on the international market.

Additionally, the Canadian dollar is gaining some strength from the hopes for good data tomorrow. Many currency traders and analysts expect Statistics Canada to release a GDP report for June that shows a solid increase. Expectations for the loonie are high.

Canadian dollar might not retain this strength, though. Risk appetite is likely to fade on news from Ukraine, and some think loonie is overvalued.

At 11:18 GMT USD/CAD is down to 1.0855 from the open at 1.0865. EUR/CAD is down to 1.4313 from the open at 1.4334. GBP/CAD is down to 1.8009 from the open at 1.8010.

If you have any questions, comments or opinions regarding the Canadian Dollar, feel free to post them using the commentary form below.

Forex News

Canadian PM: ISIS Like the Taliban

By , August 22, 2014 5:01 pm

Canada’s Prime Minister, Stephen Harper. (photo: REUTERS/Chris Wattie).OTTAWA — Prime Minister Stephen Harper is pointing to the past to warn about the threat posed by ISIS.

“It’s not very difficult for me to point out what our concerns are,” Harper told reporters Thursday in Whitehorse, Yukon, on the first stop on his annual northern tour.

“You have now a caliphate, an unrecognized terrorist state, occupying a large territory from Aleppo to Baghdad,” he said. “This is not unlike what we had in 2002 with the Taliban, you essentially had a terrorist organization establishing a form of governance and using the territory as a training ground for terrorists and that obviously is a very big concern to all of us.

“On top of all of the other things you’re seeing, the violence, really unspeakable barbarism that is occurring all over the territory and they are really committing genocide against people they see as different. These are shocking developments.”

Harper also said Canada is in conversations with the United States on the next steps to take in targeting the terror group.

KINSELLA: Don’t let ISIS in The US has been targeting ISIS with airstrikes since early August.

On Tuesday, Harper called the terror group’s beheading of American journalist James Foley “barbaric” and warned that ISIS – which has taken over large parts of northern Syria and Iraq – posed a threat to Canada and the world, not just the Middle East.

Last week, Canada deployed military transport planes and personnel to deliver military supplies to Kurdish forces fighting ISIS alongside Canada’s commitment to providing humanitarian aid.

Both the NDP and Liberals say they support expanding Canada’s humanitarian role in Iraq and Syria, and called on the government to admit more refugees from the region.

Canada has resettled more than 1,430 Syrian refugees and a spokesman for Immigration Minister Chris Alexander said the government is ” is reviewing an additional request for Syrian resettlement” from the United Nations as part of their broader response to the regional crisis.

The Taliban is the Islamist fundamentalist movement that spread throughout Afghanistan beginning in the mid-1990s and later offered safe haven to al-Qaida and Osama bin Laden.

Assyrian International News Agency

Canadian Employment Weighs on Loonie

By , August 12, 2014 7:55 am

LooniesCanadian employment news is weighing on the loonie today, prompting it to trade mixed as it loses ground to the US dollar. Falling oil prices aren’t helping the Canadian dollar, either.

There isn’t a whole log to support the Canadian dollar today. Right now, the loonie is trading mixed, but it is lower against the US dollar. The latest employment data shows a disappointing trend in Canada. Full-time jobs have been decreasing over time, being replaced by part-time jobs.

This trend is weighing on the Canadian economy, and causing some to wonder why the loonie has been somewhat strong recently.

Also weighing on the Canadian dollar is the fact that oil prices are down again. Prices remain below the $ 100 a barrel level, and oil is lower today in general. As a major support of the Canadian economy and the loonie, oil is important.

With all of this, plus a bit of uncertainty favoring low-beta currencies, it’s not much of a surprise that the loonie is struggling a bit today in Forex trading.

At 13:29 GMT USD/CAD is up to 1.0934 from the open at 1.0921. GBP/CAD is also higher, moving up to 1.8351 from the open at 1.8333. EUR/CAD is lower, though, falling to 1.4607 from the open at 1.4618.

If you have any questions, comments or opinions regarding the Canadian Dollar, feel free to post them using the commentary form below.

Forex News

Canadian Dollar Mostly Unchanged

By , August 4, 2014 9:26 am

Canadian coins on Canadian dollar billsCanadian dollar is mostly unchanged today, making no major moves higher or lower against its major counterparts. After last month, it appears that there is some consolidation in the currency market as Forex traders consider their options and think about the most recent data.

Loonie is rangebound and a bit mixed today, thanks in large part to a pause taken as a new month gets underway. US data wasn’t quite as strong as expected at the end of last week, and that has the month-long rally for the greenback coming to a close. Even so, though, the US dollar is still slightly higher against the loonie.

Canadian dollar is trading mixed against European currencies as well. Even though Canada has been seeing something of a slowdown in growth, and the Bank of Canada hasn’t been forthcoming about what’s next, many still see Canada as a better choice than the eurozone right now.

Oil prices are slightly higher today, which might help the loonie, but they are still well below highs seen in recent months.

At 14:01 GMT USD/CAD is slightly higher, up to 1.0924 from the open at 1.0321. EUR/CAD is a little bit lower, dropping to 1.4660 from the open at 1.4664. GBP/CAD is higher, gaining to 1.8396 from the open at 1.8378.

If you have any questions, comments or opinions regarding the Canadian Dollar, feel free to post them using the commentary form below.

Forex News

Data from United States Undermines Canadian Dollar

By , July 30, 2014 9:40 am

Many 100-CAD notesThe Canadian dollar dropped against its US counterpart today, reaching a lowest level in more than a month, pressured down by signs of economic growth in the United States. The currency also retreated against the euro but managed to log gains versus the Japanese yen.

US economy expanded 4 percent in the second quarter of this year, faster than was expected. It is not necessarily bad for the Canadian currency in a long run as the United States is the biggest trading partner of Canada, meaning that economic expansion in the USA leads to improving prospects for Canada’s exports. Yet for now Forex traders are selling commodity-related currencies, such as the Australian and the Canadian dollars.

As for economic news from Canada itself, indicators were somewhat mixed. The Raw Materials Price Index rose 1.1 percent in June, mainly driven by higher prices for crude energy products. At the same time, the Industrial Product Price Index slipped 0.1 percent.

USD/CAD jumped from 1.0852 to 1.0908 as pf 15:21 GMT today, trading near the highest rate since June 10. EUR/CAD advanced from 1.4550 to 1.4592. CAD/JPY edged higher from 94.06 to 94.27.

If you have any questions, comments or opinions regarding the Canadian Dollar, feel free to post them using the commentary form below.

Forex News

Canadian Dollar Looks to Hold to Yesterday’s Gains

By , July 22, 2014 8:30 am

A fan of 100-dollar notesCanadian dollar is hoping to hold on to some of yesterday’s gains, and with thin trading and concerns about the geopolitical situation, that’s a possibility.

Yesterday, the loonie closed higher against most of its major counterparts, thanks in large part to the fact that this week is a thin one for data, and thanks to geopolitical tensions that have many looking for non-European investments right now. Concerns that the situation in Ukraine will lead to greater sanctions on Russia are worrying some because the impact of industry-wide sanctions could bleed over into the eurozone economy.

The Canadian dollar also got some help yesterday from higher commodities. Today, though, oil and gold are heading a little lower, and so won’t be much help to the loonie. For now, the loonie is managing to hold on to tenuous gains, but it may not last. Many expect Statistics Canada to release a favorable retail sales report tomorrow, but any indication that things aren’t going as well as expected could send the Canadian dollar lower.

At 13:18 GMT USD/CAD is a little bit lower, dropping to 1.0735 from the open at 1.0739. EUR/CAD is struggling a bit more, falling to 1.4477 from the open at 1.4523. GBP/CAD is only a little lower, dropping to 1.8329 from the open at 1.8338.

If you have any questions, comments or opinions regarding the Canadian Dollar, feel free to post them using the commentary form below.

Forex News

Canadian Dollar Ends Week on Positive Note

By , July 18, 2014 8:07 pm

A fan of 100-dollar notesThe Canadian dollar ended the trading week on a positive note with help of supportive macroeconomic releases from Canada, which showed that the economy performs rather well and may weather monetary tightening from the nation’s central bank.

Canada’s Consumer Price Index rose 2.4 percent in June from a year ago, the fastest rate of growth in more than two years. Month-on-month, consumer prices grew 0.3 percent on a seasonally adjusted basis. Wholesale sales climbed 2.2 percent in May, year-over-year, the rate of increase being far above the predicted 0.7 percent and the April’s 1.4 percent.

The Bank of Canada conducted a policy meeting this week, leaving its main interest rate at 1 percent. In the accompanying statement, BoC Governor Stephen Poloz voiced an opinion that the pickup of inflation was caused by temporary factors:

This pickup in measured inflation is attributable to the temporary effects of higher energy prices, exchange rate pass-through and other sector-specific shocks. It is not coming from any change in domestic economic fundamentals.

USD/CAD dropped from 1.0756 to close at 1.0736, reaching the minimum of 1.0708 intraday. EUR/CAD fell from 1.4552 to 1.4479 before it settled at 1.4520. CAD/JPY climbed from 94.01 to 94.39, while its daily high was at 94.85.

If you have any questions, comments or opinions regarding the Canadian Dollar, feel free to post them using the commentary form below.

Forex News

Canadian Dollar Makes Up Some Lost Ground

By , July 14, 2014 7:17 am

[unable to retrieve full-text content]

Canadian dollar is making up some lost ground today, gaining against the US dollar. After disappointing data at the end of last week, the loonie headed lower, but today the Canadian currency is making something of a turnaround. Many Forex traders are looking forward to the interest rate announcement expected from the Bank of Canada on Wednesday. (…)Read the rest of Canadian Dollar Makes Up Some Lost Ground […]

The post Canadian Dollar Makes Up Some Lost Ground appeared first on Forex News.

Forex News

Canadian Employment Provides Nasty Surprise, CAD Sinks

By , July 11, 2014 8:32 am

A fan of 100-dollar notesCanadian employment demonstrated strong growth in May and economists were expecting June to follow suit, showing continuous improvement of the labor market. Yet today’s report provided a nasty surprise to those Forex market participants who were hoping to buy the loonie as employment data was not good at all, driving the currency down sharply.

Employment shrank by 9,400 in June after rising as much as 25,800 in May, meaning that analysts were completely wrong with their predictions of robust growth at about 20,700. What is more, the unemployment rate unexpectedly ticked up by 0.1 percentage point to 7.1 percent.

Admittedly, the report was not completely bad as the main driver for the drop was the fall of part-time employment, while the number of full-time works actually increased. Yet this did not help the Canadian currency at all, which is heading to a weekly loss now. It is important to remember that the Bank of Canada holds a monetary policy meeting next week, and the poor employment data will likely affect plans of Canadian policy makers.

USD/CAD jumped from 1.0648 to 1.0703, and EUR/CAD rallied from 1.4491 to 1.4563 as of 13:55 GMT today. CAD/JPY plunged from 95.15 to 94.64.

If you have any questions, comments or opinions regarding the Canadian Dollar, feel free to post them using the commentary form below.

Forex News

Canadian Dollar Sinks Despite News Being Not That Bad

By , July 7, 2014 10:54 pm

All the Canadian dollar bills denominationsThe Canadian dollar sank today even though the Forex traders’ sentiment towards the currency improved somewhat and not all economic reports from Canada were bad. The currency extended its drop for the second trading session.

The Purchasing Managers’ Index of Richard Ivey School of Business dropped from 48.2 in May to 46.9 in June while analysts have promised an increase to 51.3. As for good news, building permits jumped 13.8 percent in May. The increase was far bigger than predicted 3.1 percent and April’s 2.2 percent.

According to the Commitment of Traders Report, leveraged funds still have far more short positions than long ones on the Canadian currency, but the number of longs was rising, while the number of shorts was falling.

The loonie jumped after the release of US non-farm payrolls but failed to maintain rally and fell by the end of the Friday’s trading session. The weakness persisted at the start of the current trading week.

USD/CAD jumped from 1.0646 to 1.0681, and EUR/CAD advanced from 1.4470 to 1.4532 as of 21:40 GMT today. CAD/JPY tumbled from 95.81 to 95.36.

If you have any questions, comments or opinions regarding the Canadian Dollar, feel free to post them using the commentary form below.

Earlier News About the Canadian Dollar:

Forex News