Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

CANADA FX DEBT-C$ tracks crude oil lower against firmer greenback

Published 2015-12-02, 09:28 a/m
CANADA FX DEBT-C$ tracks crude oil lower against firmer greenback
LCO
-
CL
-
CA2YT=RR
-
CA10YT=RR
-

* Canadian dollar at C$1.3403 or 74.61 U.S. cents
* Bond prices mixed across the maturity curve

TORONTO, Dec 2 (Reuters) - The Canadian dollar tracked crude
oil lower on Wednesday against a broadly firmer U.S. dollar as
stronger-than-expected U.S. jobs data fed Federal Reserve rate
hike expectations, while attention turned to the Bank of Canada
interest rate decision.
Crude oil prices retreated after a rise in U.S. inventories
added to the global glut and investors discounted the
possibility of OPEC cutting output at this week's meeting.

U.S. private employers added 217,000 jobs in November,
signaling job growth is likely strong enough to support a
Federal Reserve rate hike this month.
At 8:58 a.m. EST (1358 GMT), the Canadian dollar CAD=D4
was trading at C$1.3403 to the greenback, or 74.61 U.S. cents,
weaker than the Bank of Canada's official close of C$1.3364, or
74.83 U.S. cents.
The currency's strongest level of the session was C$1.3355,
while its weakest level was C$1.3406, a nine-day low.
Against euro, the Canadian dollar firmed to C$1.4181 after a
soft inflation reading from the euro zone raised expectations
for aggressive policy easing from the European Central Bank on
Thursday.
Canadian government bond prices were mixed across the
maturity curve, with the two-year CA2YT=RR price flat to yield
0.596 percent and the benchmark 10-year CA10YT=RR falling 10
Canadian cents to yield 1.503 percent.
The Canada-U.S. two-year bond spread was 3.4 basis points
wider at -34.6 basis points, while the 10-year spread was 1
basis point wider at -67.4 basis points as Treasuries
underperformed on the U.S. data.
U.S. crude CLc1 prices were down 2.05 percent to $40.99 a
barrel, while Brent crude LCOc1 lost 1.89 percent to
$43.6. O/R
The Bank of Canada is widely expected to hold interest rates
at 0.50 percent when it makes its policy announcement at 10:00
a.m. EST (1500 GMT).
Also today, Federal Reserve Chair Janet Yellen could cement
the case for a U.S. interest rate hike when she speaks on the
economic outlook before the Economic Club of Washington at 12:25
p.m. EST (1725 GMT).

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.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.