GFM Network News

Loonie set to weaken heading into new year

Many factors appear set to weigh in against our dollar in the coming days

The Canadian dollar has seen some wide moves over the past week, but appears to be trending lower relative to its U.S. counterpart heading into 2018, according to a currency analyst. “We see (the Canadian dollar) weaker for the first quarter of this year,” said currency strategist Mark Chandler, of RBC Dominion Securities, pointing to

Canadian dollar flirts with U.S. parity

The Canadian dollar has reached parity with its U.S. counterpart because of the Bank of Canada’s commitment to a tightening bias. Despite struggling economies in the U.S. and the euro zone, the Canadian dollar will likely hover around the parity mark for the remainder of the year, according to one analyst. “The Bank of Canada

Economic Jitters, Harvest Pace Weigh On Grains

Canola futures on the ICE Futures Canada trading platform suffered a serious price setback during the week ended Sept. 23. Global macroeconomic concerns combined with an aggressive harvest pace on the Canadian Prairies to send values down sharply. All the canola contracts lost at least $20 per tonne each. The penetrat ion of support in

Strong Canadian Dollar Here To Stay

The fundamentals continue to support a strong Canadian dollar, according to a market analyst. “Our forecast is for the Canadian dollar to hit US$1.05 in Q2, and we’re probably getting there a little faster than anticipated,” said David Watt, senior currency strategist with RBC Capital Markets. The Canadian dollar was sitting above US$1.04 on April

U.S. Says Its Policy Not To Blame

U.S. Federal Reserve chairman Ben Bernanke said Feb. 3 it was “unfair” to blame U.S. monetary policy for pushing up inflationary pressures in emerging market economies. Some analysts have blamed the fed’s quantitative easing for flooding the global economy with money and helping to drive prices for food and other commodities higher. “It’s entirely unfair