FOREX TradingCharts.com

Forex News: Canadian Dollar Climbs Amid Risk Appetite

Canadian Dollar Climbs Amid Risk Appetite

08/08/2022 - 10:56:00 (RTTNews)

(RTTNews) - The Canadian dollar strengthened against its most major counterparts in the European session on Monday amid risk appetite, as strong U.S. jobs data suggested that the economy is likely avoid a hard landing despite aggressive Fed tightening to control inflation.

The U.S. economy added more jobs than expected in July and the unemployment rate fell, dispelling the fears about a potential recession.

Investors await the release of key U.S. inflation data due later this week.

The headline inflation is seen slowing to 8.7 percent year-on-year in July, down from 9.1 percent in the prior month.

Better-than-expected Chinese trade data released over the weekend eased concerns about the economic outlook.

The loonie advanced to 4-day highs of 1.2839 against the greenback and 1.3099 against the euro, after falling to 1.2950 and 1.3172, respectively in early deals. The next possible resistance for the loonie is seen around 1.25 against the greenback and 1.28 against the euro.

The loonie touched 104.98 against the yen, its highest level since July 29. On the upside, 106.00 is possibly seen as the next resistance level for the loonie.

In contrast, the loonie was down against the aussie, at a 6-day low of 0.9005. The loonie may challenge support around the 0.92 level.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Pound Moves Down Following U.K. Mini-budget Statement (52 min(s), 56 sec(s) ago)
(RTTNews) - The pound depreciated against its major counterparts in the European session on Friday ...Full Story»

Euro Lower As European Shares Fall, Eurozone Business Activity Contracts Further (34 min(s), 57 sec(s) ago)
(RTTNews) - The euro weakened against its most major counterparts in the European session on Frida ...Full Story»

Euro Little Changed After Eurozone PMI Data (02 hr(s), 13 min(s), 04 sec(s) ago)
(RTTNews) - At 4.00 am ET Friday, S&P Global has published Eurozone flash PMI data. The euro c ...Full Story»

Euro Falls Vs Most Majors Ahead Of Eurozone PMI Data (02 hr(s), 19 min(s), 04 sec(s) ago)
(RTTNews) - At 4.00 am ET Friday, S&P Global publishes Eurozone flash PMI data. Economists for ...Full Story»

Pound Retreats After BoE Rate Hike, Recession Warning (07 min(s), 56 sec(s) ago)
(RTTNews) - The pound retreated from early highs against its most major counterparts in the Europe ...Full Story»

Japanese Yen Gains Ground Following BoJ Intervention (07 min(s), 57 sec(s) ago)
(RTTNews) - The Japanese yen appreciated against its major counterparts in the European session on ...Full Story»

Swiss Franc Drops Despite SNB Rate Hike (28 min(s), 03 sec(s) ago)
(RTTNews) - The Swiss franc fell against its major counterparts in the European session on Thursda ...Full Story»

Franc Weakens After SNB Decision (02 hr(s), 40 min(s), 04 sec(s) ago)
(RTTNews) - As expected, the Swiss National Bank raised its policy rate by 75 basis points to 0.50 ...Full Story»

Search

FOREX NEWS

Pound Moves Down Following U.K. Mini-budget Statement

09/23/2022 - 09:07 AM (RTTNews)
(RTTNews) - The pound depreciated against its major counterparts in the European session on Friday ...Full Story>>

Euro Lower As European Shares Fall, Eurozone Business Activity Contracts Further

09/23/2022 - 06:48 AM (RTTNews)
(RTTNews) - The euro weakened against its most major counterparts in the European session on Frida ...Full Story>>

Euro Little Changed After Eurozone PMI Data

09/23/2022 - 04:02 AM (RTTNews)
(RTTNews) - At 4.00 am ET Friday, S&P Global has published Eurozone flash PMI data. The euro c ...Full Story>>

Euro Falls Vs Most Majors Ahead Of Eurozone PMI Data

09/23/2022 - 03:55 AM (RTTNews)
(RTTNews) - At 4.00 am ET Friday, S&P Global publishes Eurozone flash PMI data. Economists for ...Full Story>>

Pound Retreats After BoE Rate Hike, Recession Warning

09/22/2022 - 10:23 AM (RTTNews)
(RTTNews) - The pound retreated from early highs against its most major counterparts in the Europe ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.