CANADA FX DEBT-C$ strengthens to 1-week high as oil rallies, Brexit fears ease

Published 2016-06-20, 09:41 a/m
© Reuters.  CANADA FX DEBT-C$ strengthens to 1-week high as oil rallies, Brexit fears ease
USD/CAD
-
CL
-
CA2YT=RR
-
CA10YT=RR
-

* Canadian dollar at C$1.2779, or 78.25 U.S. cents
* Loonie touched its strongest since June 13 at $1.2778
* Bond prices lower across a steeper maturity curve

TORONTO, June 20 (Reuters) - The Canadian dollar
strengthened to a one-week high against its broadly weaker U.S.
counterpart on Monday, tracking oil and stocks higher as worries
eased that Britons will vote to leave the European Union and
offset disappointing domestic data.
Global stocks rose and oil rallied after polls showed
support for Britain staying in the EU regaining momentum before
Thursday's referendum.
U.S. crude CLc1 prices were up 2.06 percent to $48.97 a
barrel, supportive of Canada's risk-sensitive commodity-linked
currency.
At 9:26 a.m. EDT (1326 GMT), the Canadian dollar CAD=D4
was trading at C$1.2779 to the greenback, or 78.25 U.S. cents,
stronger than Friday's close of C$1.2878, or 77.65 U.S. cents.
The currency's weakest level of the session was C$1.2878,
while it touched its strongest since June 13 at $1.2778.
The value of Canadian wholesale trade rose 0.1 percent in
April, far less than expected, data from Statistics Canada
showed. Volumes rose by 0.2 percent. It was the latest sign that
the second quarter began on weak footing.
Speculators cut bullish bets on the loonie for the second
straight week, Commodity Futures Trading Commission data showed
on Friday. Net long Canadian dollar positions fell to 18,440
contracts in the week ended June 14 from 21,537 contracts in the
prior week.
Canadian government bond prices were lower across a steeper
maturity curve in sympathy with Treasuries as investor appetite
waned for safe-haven assets.
The two-year CA2YT=RR price fell 5.5 Canadian cents to
yield 0.548 percent and the benchmark 10-year CA10YT=RR
dropped 65 Canadian cents to yield 1.188 percent.
Last week, the 10-year yield hit a four-month low at 1.052
percent.
Canadian retail sales data is awaited on Wednesday. Retail
sales are expected to have climbed by 0.9 percent in April after
falling in March. ECONCA

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.