Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Canadian dollar bounces off 11-day low as oil, stocks rise

Published 2019-04-16, 09:30 a/m
Updated 2019-04-16, 09:30 a/m
© Reuters.  Canadian dollar bounces off 11-day low as oil, stocks rise

© Reuters. Canadian dollar bounces off 11-day low as oil, stocks rise

* Canadian dollar near flat against the greenback

* Price of U.S. oil rises 0.4%

* Canadian factory sales fall 0.2% in February

* Canadian government bond prices dip across yield curve

TORONTO, April 16 (Reuters) - The Canadian dollar was little changed against its U.S. counterpart on Tuesday, recovering from an earlier 11-day low as gains for U.S. stocks futures and higher oil prices offset weaker-than-expected domestic manufacturing data.

Canadian factory sales were down by 0.2% in February from January on lower sales of motor vehicles, as well as wood products, Statistics Canada said. Analysts had forecast no change. data from Statistics Canada showed that foreign investors bought a net C$12.05 billion in Canadian securities in February, led by corporate bonds. stocks were boosted by stellar results from blue-chip companies, while U.S. crude oil futures CLc1 rose 0.4% to $63.65 a barrel as falling Venezuelan and Iranian exports and fighting in Libya raised concerns of tightening supply. is one of Canada's major exports.

At 9:01 a.m. (1301 GMT), the Canadian dollar CAD=D4 was trading nearly unchanged at 1.3370 to the greenback, or 74.79 U.S. cents. The currency touched its weakest intraday since April 5 at 1.3403.

The 11-day low came after a Bank of Canada quarterly survey on Monday showed that Canadian business sentiment has turned slightly negative, weighed by a weak energy sector, a housing slowdown and global trade tensions. inflation report for March and February trade data is due on Wednesday.

Canadian government bond prices edged lower across the yield curve, with the two-year CA2YT=RR down 2 Canadian cents to yield 1.618% and the 10-year CA10YT=RR falling 13 Canadian cents to yield 1.771%.

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.