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USD/CAD (CAD=X)
- Bloomberg
Canadian Dollar Tumbles as Economic Data Show Signs of Slowdown
(Bloomberg) -- Canada’s dollar slumped Tuesday - at one stage falling by the most in more than a month -- even as major peers like the Australian and New Zealand dollars gained ground against the greenback. Most Read from BloombergScientists Revive 48,500-Year-Old ‘Zombie Virus’ Buried in IceBanks Stuck With $42 Billion Debt Seize Chance to Offload ItThese Are the Best and Worst Cities for Expats to Live and Work InThis Is Where Luxury Property Prices May Rise and Fall the Most in 2023Apple to L
- Reuters
Canadian dollar slides as crypto selloff spooks investors
"The plunge that we have seen in the crypto space over the last two days caught up with risk sentiment today, resulting in weak stock and commodity prices," said George Davis, chief technical strategist at RBC Capital Markets. The U.S. dollar climbed against a basket of major currencies and U.S. stock indexes fell as the outcomes of tightly contested U.S. midterm elections remained unclear. Its governor, Tiff Macklem, is due on Thursday to give a speech on the evolution of the Canadian labour market.
- Reuters
Canadian dollar forecasts cut as BoC trails Fed on peak-rate bets - Reuters poll
Canada's dollar will gain less than previously thought over the coming year as the domestic economy has lost some sensitivity to oil prices and the Bank of Canada potentially lagging the Federal Reserve in hiking rates, a Reuters poll showed. The currency has weakened over 7% against the U.S. dollar since the start of 2022. According to the median forecast of nearly 30 currency analysts in the Oct. 28-Nov. 1 poll the Canadian dollar will weaken over 0.5% to 1.37 per U.S. dollar, or 72.99 U.S. cents, in three months' time, compared with the October forecast of 1.34.
