Canadian Dollar Biggest Gainer Among G10 Currencies in 2019 - Forex News by FX Leaders
Canadian Dollar Biggest Gainer Among G10 Currencies in 2019

Canadian Dollar Biggest Gainer Among G10 Currencies in 2019

Posted Wednesday, January 1, 2020 by
Arslan Butt • 1 min read

On the first day of a brand new year, the Canadian dollar continues to make gains against the US dollar after rising to a 14-month high in the previous session. At the time of writing, USD/CAD is trading around 1.297.

The Canadian dollar has gained around 5% in 2019, the highest gainer among G10 currencies. USD/CAD has also traded bearish over a weakness in the US dollar over an improvement in the risk appetite in global financial markets ever since the US and China announced the signing of the phase one trade deal.

In addition, the Canadian dollar has also been strengthening over a recent bullishness in crude oil prices, as Canada is a leading exporter of oil. Crude oil prices have been trading higher lately ever since OPEC announced deeper supply cuts for 2020, and optimism of fading trade tensions following the signing of the partial trade deal between the US and China.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Related Articles
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments