The Canadian Dollar (CAD) has seen a quick end to its almost-rally on Monday, getting pushed back down and tipping into a fresh twelve-and-a-half-month low against the US Dollar (USD).
Canadian Dollar falls back as broader markets turn into the US Dollar. Canada GDP flattens as economy lags, odds of future rate cuts beginning to rise. Fed’s Wednesday rate call has markets twisting, USD is Tuesday’s best performer. August’s Canada Gross Domestic Product printed flat on Tuesday, missing the forecast of 0.1% and holding flat against July as Canadian economic growth stalls out.
USD/CAD Daily Chart Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar are the level of interest rates set by the Bank of Canada , the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports.
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