FOREX TradingCharts.com

Forex News: Canadian Dollar Firms As Canadian PM Trudeau Gets

Canadian Dollar Firms As Canadian PM Trudeau Gets Third Term In Office

09/21/2021 - 06:13:00 (RTTNews)

(RTTNews) - The Canadian dollar gained ground against its major counterparts in the European session on Tuesday, as Canadian Prime Minister Justin Trudeau attained victory for a third time in parliamentary elections held on Monday, allowing him to continue with a big spending plan during the crisis.

Early results showed that Trudeau's Liberal party is leading or elected in 157 seats, well short of the 170 required for a majority government.

The Conservatives were leading or elected in 121 seats, similar to the 2019 vote.

Trudeau called a snap election on August 15 in a bid to get a majority in parliament.

The currency was further supported by a rebound in oil prices as well as a fall in the dollar.

Investors looked ahead to the Fed meeting beginning later in the day to see whether the central bank will take a step closer to the tapering of the QE program.

The latest statement is set to include updated projections for interest rates and economic forecasts.

The loonie was higher against the greenback, at a 4-day high of 1.2743. The loonie is seen finding resistance around the 1.25 mark.

The loonie touched 1.4952 against the euro, up from a low of 1.5039 seen at 6 pm ET. On the upside, 1.48 is possibly seen as its next resistance level.

The loonie reached as high as 86.02 against the yen, compared to Monday's closing value of 85.28. Should the loonie rises further, it may find resistance around the 88 level.

The loonie edged higher to 0.9271 against the aussie from Monday's close of 0.9292. Next key resistance for the loonie is seen around the 0.90 level.

Looking ahead, Canada new housing price index, U.S. building permits and housing starts, all for August, are set for release in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Little Changed After U.S. Consumer Confidence Index (01 hr(s), 45 min(s), 47 sec(s) ago)
(RTTNews) - U.S. consumer confidence index for October and new home sales for September have been ...Full Story»

Dollar Mixed Ahead Of U.S. Consumer Confidence Index (01 hr(s), 54 min(s), 47 sec(s) ago)
(RTTNews) - U.S. consumer confidence index for October and new home sales for September are due at ...Full Story»

Dollar Little Changed After U.S. Housing Data (02 hr(s), 42 min(s), 46 sec(s) ago)
(RTTNews) - Federal Housing finance agency's house price index and S&P/Case-Shiller home p ...Full Story»

Dollar Falls Vs Most Majors Ahead Of U.S. Housing Data (02 hr(s), 48 min(s), 46 sec(s) ago)
(RTTNews) - Federal Housing finance agency's house price index and S&P Case-Shiller home p ...Full Story»

Euro, Pound Firm As European Shares Rise (03 hr(s), 48 min(s), 47 sec(s) ago)
(RTTNews) - The euro and the pound were higher in the European session on Tuesday, as European sha ...Full Story»

Australian, NZ Dollars Climb Amid Rising Risk Appetite (07 hr(s), 48 min(s), 47 sec(s) ago)
(RTTNews) - The Australian and NZ dollars advanced against their major counterparts in the Asian s ...Full Story»

U.S. Dollar Climbs As Rising Oil Prices Raise Inflationary Risks (27 min(s), 47 sec(s) ago)
(RTTNews) - The U.S. dollar appreciated against its major counterparts in the European session on ...Full Story»

Indian Rupee Declines To 5-day Low Against U.S. Dollar (04 hr(s), 15 min(s), 47 sec(s) ago)
(RTTNews) - The Indian rupee dropped against the U.S. dollar in the evening session on Monday, ami ...Full Story»

Search

FOREX NEWS

Dollar Little Changed After U.S. Consumer Confidence Index

10/26/2021 - 10:05 AM (RTTNews)
(RTTNews) - U.S. consumer confidence index for October and new home sales for September have been ...Full Story>>

Dollar Mixed Ahead Of U.S. Consumer Confidence Index

10/26/2021 - 09:56 AM (RTTNews)
(RTTNews) - U.S. consumer confidence index for October and new home sales for September are due at ...Full Story>>

Dollar Little Changed After U.S. Housing Data

10/26/2021 - 09:06 AM (RTTNews)
(RTTNews) - Federal Housing finance agency's house price index and S&P/Case-Shiller home p ...Full Story>>

Dollar Falls Vs Most Majors Ahead Of U.S. Housing Data

10/26/2021 - 09:00 AM (RTTNews)
(RTTNews) - Federal Housing finance agency's house price index and S&P Case-Shiller home p ...Full Story>>

Euro, Pound Firm As European Shares Rise

10/26/2021 - 08:02 AM (RTTNews)
(RTTNews) - The euro and the pound were higher in the European session on Tuesday, as European sha ...Full Story>>

Do not sell my personal information

Copyright © 2021. 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.