Bank of Canada

The Canadian Dollar advanced back in the direction of 2020 highs against the U.S. Dollar while placing Sterling and other currencies under pressure on Wednesday after the Bank of Canada (BoC) stayed its monetary policy course, confirming in the process that Canadian interest rates really are at the "zero lower bound."

The Canadian Dollar remained among the better performing major currencies for the recent week on Tuesday as it continued to overlook the risk of a surprise policy move from the Bank of Canada (BoC) on Wednesday, which might not be as much a wild card scenario as market pricing suggests it is. 

The Canadian Dollar is nursing losses against the Pound, U.S. Dollar and the majority of the world's nine largest currencies in a week dominated by falling stock markets and a Bank of Canada decision to enhance its quantitative easing programme.

The Canadian Dollar crumbled on Wednesday, extending or otherwise cultivating losses against most major currencies including Pound Sterling after the Bank of Canada (BoC) said it will now target lofty and alluring long-term Canadian government bond yields with its ongoing quantitative easing programme.  

Improved investor sentiment and rising oil prices have combined to aid a recovery in the value of the Canadian Dollar, which enters the final quarter of 2020 as one of the better performing of the world's major currencies.

The Canadian Dollar outperformed on Thursday alongside other commodity and risk-sensitive currencies even after Bank of Canada Governor Tiff Macklem warned of risks to Canada’s economic recovery and reaffirmed the BoC's commitment to an extended period of near-zero interest rates. 

The Canadian Dollar was buoyed on Wednesday when the Bank of Canada (BoC) said it expects "a sharp rebound in economic activity" this quarter but that it will still provide a monetary escort to the economy until it returns to dry land. 

The Canadian Dollar weakened against rivals Wednesday after the Bank of Canada (BoC) abandoned the so-called 'tightening bias' that would have eventually seen it go on lifting interest rates over the coming quarters, before laying the foundations for a possible shift to an 'easing bias' at a later date. 

The Canadian Dollar remains the best performing currency in the G10 universe for 2019 but that could all change this week if analyst commentary on the Loonie is anything to go by, given many are warning clients that losses are looming on the path ahead. 

The Canadian Dollar weakened Monday after the latest business outlook survey from theBank of Canada (BoC) revealed a weakening of inflation pressures during first-quarter and pointed to slower economic growth during the months ahead.

TD Securities have downgraded their forecast for the Canadian Dollar, eyeing a softening of activity in the domestic economy.

The Canadian Dollar crumbled on Wednesday, pushing the Pound-to-Canadian-Dollar rate to a fresh six-month high, after the Bank of Canada (BoC) appeared to drop its bias to lift interest rates over the coming quarters. 

The Canadian Dollar ceded ground to rivals Wednesday after the Bank of Canada (BoC) confirmed that earlier guidance suggesting it would raise interest rates aggressively this year has effectively been thrown in the bin by policymakers during recent weeks. 

The Canadian Dollar remained on its back foot Thursday after official data revealed a sharp widening of the trade deficit during October and as markets await a crunch decision about production cuts by the Organization of Petroleum Exporting Countries (OPEC), both of which are key to the outlook for the Loonie. 

The Canadian Dollar weakened rapidly Wednesday after the Bank of Canada (BoC) appeared to back away from earlier guidance that it would step up the pace at which it raises interest rates in 2019. 

The Canadian Dollar advanced against all of its rivals in the midweek session after the Bank of Canada (BoC) raised its overnight lending rate and provided a strong hint of further hikes to come. 

The Canadian Dollar weakened a touch Wednesday after the Bank of Canada (BoC) left its interest rate unchanged for December as many had expected, leaving investors to focus on mounting risks to North American Free Trade Agreement (NAFTA) and Canada's trade relationship with the US. 

It's a hike. Analysts give their views below on what Wednesday's interest rate rise might mean for the Canadian Dollar going forward.

Analysts are unanimous: the BoC will raise rates Wednesday. But...it could struggle to live up to market expectations, which is bad news for the Canadian Dollar.

Canada's economy appears over its recent blip although the BoC remains cautious and strategist opinions on the Loonie are mixed.