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At mid-afternoon, the Canadian dollar was down nearly two-tenths of a United States cent compared to Monday's close.
If the releases are as expected or lower, it could be a rough day for the Canadian dollar.
Source: https://www.marketpulse.com/20230120/usd-cad-eyes-retail-sales/
Invesco CurrencyShares® Canadian Dollar Trust ETF is the Canadian dollar versus the U.S. dollar ETF product – A trading range with upside potential.
The Canadian dollar eased slightly in the aftermath of the decision but then recovered almost all of the losses.
The Canadian dollar soared, trading as high as C$1.3512 per US dollar, from about C$1.366 before the release.
The Canadian dollar strengthened against its U.S. counterpart on Friday, recouping losses from earlier in the week, as equity markets rallied and investors turned attention to an upcoming interest rate decision by the Bank of Canada.
The Canadian dollar traded for 75.11 cents US compared with 74.91 cents US on Thursday.
Source: https://www.baytoday.ca/business/sptsx-composite-largely-unchanged-friday-us-markets-up-6445171
The Canadian dollar was slightly higher in choppy trading on mid-afternoon Wednesday.
The labour market has remained strong despite the Bank of Canada’s aggressive tightening, and a weak employment reading would boost the case for another pause from the BoC and could weigh on the Canadian dollar.
Source: https://www.marketpulse.com/fundamental/usd-cad-steady-ahead-of-canada-us-job-reports/kfisher
"We've seen the Canadian dollar strengthen slightly on the back of oil," said Darren Richardson, chief operating officer at Richardson International Currency Exchange Inc.