CAD/JPYCADJPY
Daily Market Briefing
Latest briefing
CAD/JPY trades at 110.72, down 0.93% from previous close.
Over the past 24 hours, CAD/JPY has experienced a slight decline, closing at 110.72, down 0.93% from the previous close. This movement reflects a broader trend influenced by recent market developments.
Previous briefings
CAD/JPY drops to 110.69 amid yen strengthening and Canadian dollar shorts reduction.
Over the past 24 hours, CAD/JPY declined to 110.69, influenced by a significant shift in yen positioning and a reduction in Canadian dollar short positions. The yen's net long positioning increased by approximately 103,000 contracts, marking the largest weekly rise since early August. Concurrently, Canadian dollar shorts decreased by about 37,600 contracts, the most substantial weekly improvement since mid-December 2025.
TD Securities forecasts CAD to gain prominence as a global carry funding currency.
TD Securities suggests that the Canadian Dollar (CAD) is poised to become a more significant global carry funding currency, with its carry-to-volatility profile now comparable to the Japanese Yen (JPY). This shift follows recent U.S. tariffs, which have led to a rally in USD/CAD, aligning with TD Securities' year-end forecast of 1.39. However, they anticipate potential bearish catalysts in the near term as tariff impacts influence economic data and market sentiment, potentially overshadowing the Bank of Canada's recent hawkish stance.
CAD/JPY remains stable amid U.S.-Canada trade tensions and Japanese yen steadiness.
Over the past 24 hours, CAD/JPY has maintained a steady course, influenced by ongoing trade disputes between the U.S. and Canada, which have impacted the Canadian dollar's performance. Simultaneously, the Japanese yen has remained relatively unchanged following comments from Bank of Japan Deputy Governor Ryozo Himino, who suggested that timely rate hikes could prevent future inflation spikes.
Canada imposes retaliatory tariffs on U.S. goods, strengthening CAD/JPY.
In the past 24 hours, the Canadian dollar (CAD) has strengthened against the Japanese yen (JPY) following Canada's announcement of retaliatory tariffs on U.S. imports. This move aims to counteract the U.S. imposing a 50% tariff on certain Canadian goods. The escalation in trade tensions has led to increased demand for the CAD, bolstering its value against the JPY.
CAD/JPY dips to 115.09 amid escalating US-Canada trade tensions
The Canadian dollar weakened against the Japanese yen, with CAD/JPY falling to 115.09, as escalating trade tensions between the US and Canada led to the imposition of 50% tariffs on Canadian goods by the US, prompting Canada to retaliate.
Canada to impose retaliatory tariffs on U.S. imports starting September 8, 2026.
In response to the U.S. implementing 50% tariffs on $20 billion worth of Canadian products, Canada announced it will impose matching tariffs on U.S. imports starting September 8, 2026. This escalation in trade tensions is expected to negatively impact the Canadian dollar against the Japanese yen.
CAD/JPY remains steady at 115.96 amid yen's 40-year low and Bank of America short position.
Over the past 24 hours, CAD/JPY has maintained a stable trading range around 115.96. The Japanese yen continues to trade near a 40-year low against the US dollar, influenced by a significant interest rate differential between Japan and other major economies. Additionally, Bank of America has initiated a short position on CAD/JPY, citing concerns over potential US-Mexico-Canada Agreement (USMCA) tariffs and possible Japanese currency intervention.
Canadian Dollar strengthens against Japanese Yen amid rising oil prices
Over the past 24 hours, the Canadian Dollar (CAD) has appreciated against the Japanese Yen (JPY), primarily driven by a surge in oil prices. The CAD's performance is closely linked to oil, as Canada is a major oil exporter. Additionally, recent data indicates a significant increase in bearish positions against the CAD, suggesting market concerns over potential trade tensions.
Bank of America initiates short position on CAD/JPY amid tariff uncertainties
In the past 24 hours, Bank of America has taken a short position on the CAD/JPY currency pair, citing growing uncertainties surrounding the United States-Mexico-Canada Agreement (USMCA) and potential Japanese currency interventions. This move reflects concerns over escalating trade tensions and their impact on currency markets.
Bank of America initiates short position on CAD/JPY amid tariff concerns
Bank of America has opened a short position on the CAD/JPY currency pair, citing increased uncertainty surrounding the United States-Mexico-Canada Agreement (USMCA) and potential intervention in Japan's currency market. The strategists set a target of 112.00 yen per Canadian dollar, with an entry point at 115.65 and a stop loss at 118.90. They noted that the CAD/JPY pair traded 0.1% higher on the day at 115.59, gaining about 1% so far this month.
CAD/JPY surges past 115 as oil prices rise amid Middle East tensions
Over the past 24 hours, CAD/JPY has broken above the 115 yen level, driven by escalating oil prices and geopolitical tensions in the Middle East. This surge reflects the Canadian dollar's sensitivity to oil market dynamics, while the Japanese yen remains under pressure due to Japan's trade deficit and low interest rates.
CAD/JPY remains stable at 114.22 amid yen bearishness and policy concerns.
Over the past 24 hours, CAD/JPY has maintained a steady position at 114.22. Investor sentiment towards the Japanese yen has reached a four-year low, driven by concerns over Japan's monetary and fiscal policies. Despite this, the Canadian dollar has remained relatively unaffected, keeping the CAD/JPY pair stable.
CAD/JPY remains steady at 113.75 amid low trading activity.
Over the past 24 hours, CAD/JPY has maintained a stable trading range, with no significant market-moving events reported. This stability is likely due to the holiday season, leading to reduced trading volumes and limited market activity. Traders should anticipate a continuation of this trend until the markets resume normal operations.
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AI-generated from public news sources. Not financial advice.