Philip Chua Business Blog

Posts Tagged ‘canadian dollar’

The dollar fell versus its counterparts except the Canadian dollar on Friday after a Labor Department report showed July US nonfarm payrolls dropped more than expected. US interest rates declined and the S&P 500 slipped 4.17 to 1,121.64. The yen advanced as US 2-year note yields fell below 0.50% for

The Canadian dollar was soft after the Bank of Canada today raised the benchmark interest rate by a quarter percentage to 0.75% as expected but warned of a slow down in domestic and global economic recovery. This relatively dovish statement, however, was not able to play down the market expectation

The dollar had an excellent week, its best since January. The US currency rose 2% or more against every major currency except the Canadian Dollar; against the loonie it gained only 1.8%. Several factors sent the dollar soaring: end of the year profit taking and position squaring; sovereign debt concerns…

The DXY does not mirror the United States trade position in the global economy. It is heavily weighted to Europe, undervalues the Canadian Dollar, ignores South Korea Taiwan and by necessity China. A firm cannot settle a trade flow in the DXY nor is it particularly useful as a hedge…

Is the long consolidation of the dollar over? The decline of the greenback against major currencies and the Australian dollar/Canadian dollar in particular might be the beginning of a new leg down that could last until December. The decision of the Royal Bank of Australia to increase interest rates will…

Sterling has been one of the weakest currencies this week, with only the Canadian dollar underperforming in the G-10 currency space. GBP/USD has closed the week at 1.5992, recording a fall of 1.7%. The depreciation in the pound has been broad based with GBP/ EUR also falling 1.7%, to close…