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Day: August 14, 2020
August 142020
Canadian Dollar Pares Gain on Weaker Energy, Capped by Strong Manufacturing
The Canadian dollar pared its weekly gain to close out the trading week, driven primarily by slumping energy prices. But the loonieâs drop was capped by better-than-expected manufacturing data. Still, the Canadian dollar is poised for a significant 1% weekly advance against the US dollar as the currency continues its rebound following an abysmal first half of 2020. According to Statistics Canada, manufacturing sales surged 20.7% in June, up from an 11.6% […]
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August 142020
Euro Rallies Against the Dollar on In-Line Eurozone Q2 GDP Data
The euro today edged higher against the dollar after an initial slump as investors remained concerned about the political stalemate in the US regarding further stimulus. The EUR/USD currency pair rallied higher as the greenback headed lower and investor sentiment shifted in favour of the riskier single currency, but gains were limited. The EUR/USD currency pair today fell to a low of 1.1781, which is a medium-term resistance level, before rallying to a high of 1.1850 and was […]
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