CANADA FX DEBT-C$ edges only slightly lower as oil falls

Published 2017-02-17, 09:59 a/m
© Reuters.  CANADA FX DEBT-C$ edges only slightly lower as oil falls
USD/CAD
-
CL
-
TRP
-
CA2YT=RR
-
CA10YT=RR
-
USDIDX
-

* Canadian dollar at C$1.3082, or 76.44 U.S. cents

* Bond prices higher across the yield curve

* 10-year yield hits one-week low at 1.694 percent

TORONTO, Feb 17 (Reuters) - The Canadian dollar edged only slightly lower against its U.S. counterpart on Friday as oil prices fell, with losses limited as investors awaited clarity on U.S. President Donald Trump's policies on tax and trade.

Prices of oil, one of Canada's major exports, were pressured by growing global stocks. U.S. crude CLc1 prices were down 0.49 percent at $53.10 a barrel.

The U.S. dollar .DXY headed for its sixth week of losses in the last eight as investors awaited substantive market-friendly news from Trump on tax reform. imposition of a proposed border adjustment tax would "hit Canadian exports hard," said the C.D. Howe Institute in a research report on Tuesday.

Canada sends 75 percent of its exports to the United States.

At 9:47 a.m. ET (1447 GMT), the Canadian dollar CAD=D4 was trading at C$1.3082 to the greenback, or 76.44 U.S. cents, slightly weaker than Thursday's close of C$1.3080, or 76.45 U.S. cents.

The currency traded in a range of C$1.3061 to C$1.3099.

On Thursday, TransCanada Corp TRP.TO , Canada's No. 2 pipeline operator, filed an application with Nebraska authorities to route its Keystone XL pipeline through the state, after Trump cleared the way for the project last month. constructed, Keystone would give oil producers in Canada a quicker route to send crude to U.S. Gulf Coast refiners.

Canadian government bond prices rose across the yield curve in sympathy with U.S. Treasuries as concerns over the French election and weak data in Britain supported demand for safe-haven assets.

The two-year CA2YT=RR price rose 3.5 Canadian cents to yield 0.778 percent and the 10-year CA10YT=RR climbed 27 Canadian cents to yield 1.712 percent.

The 10-year yield touched its lowest intraday level since Feb. 10 at 1.694 percent.

Foreign investors bought C$10.23 billion worth of Canadian securities in December, sealing a new annual record for purchases of bonds, stocks and money market paper, Statistics Canada said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.