Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

CANADA FX DEBT-C$ dips but on track to post biggest weekly gain in 3 months

ForexSep 14, 2018 16:20
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. CANADA FX DEBT-C$ dips but on track to post biggest weekly gain in 3 months

* Canadian dollar falls to 1.3037 to the greenback

* Loonie on track to rise 1 percent for the week

* Price of U.S. oil rises 0.6 percent

* Bond prices move lower across much of a steeper yield curve

By Fergal Smith

TORONTO, Sept 14 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Friday as the greenback rose broadly, but the loonie was on course for its best weekly performance in nearly three months.

At 3:54 p.m. (1954 GMT), the Canadian dollar CAD=D4 was trading 0.3 percent lower at 1.3037 to the greenback, or 76.70 U.S. cents.

The currency, which on Thursday touched its strongest in two weeks at 1.2976, traded in a range of 1.2984 to 1.3053.

"Generally firmer" U.S. data and a lack of domestic impetus weighed on the loonie, said Mark Chandler, head of Canadian fixed income and currency strategy at RBC Capital Markets.

The U.S. dollar .DXY rose against a basket of currencies, rebounding from a near 1-1/2-month low, as upbeat U.S. economic data and higher Treasury yields rekindled some investor appetite for the greenback. decline for the loonie came as U.S. President Donald Trump instructed aides to proceed with tariffs on about $200 billion of Chinese products. exports many commodities and runs a current account deficit, so its economy could be hurt if the global flow of trade or capital slows.

Still, the loonie has been boosted this week by higher oil prices and optimism that a deal to renew the North American Free Trade Agreement will be reached. It has climbed 1 percent since the start of the week, the most since late June.

U.S. House of Representatives Democratic Leader Nancy Pelosi warned the Trump administration that NAFTA should be maintained as a trilateral pact between the United States, Mexico and Canada and not just as a U.S.-Mexico arrangement. price of oil, one of Canada's major exports, was supported by worries of more sanctions on Iran. U.S. crude oil futures CLc1 settled 0.6 percent higher at $68.99 a barrel. have raised bearish bets on the Canadian dollar, data from the U.S. Commodity Futures Trading Commission and Reuters calculations showed. As of Sept. 11, net short positions had increased to 26,942 contracts from 26,307 a week earlier.

The ratio of Canadian household debt to income widened to 169.1 percent in the second quarter from an upwardly revised 168.3 percent in the first quarter, Statistics Canada said. government bond prices fell across much of a steeper yield curve in sympathy with U.S. Treasuries. The 10-year CA10YT=RR fell 13 Canadian cents to yield 2.343 percent.

The 10-year yield touched its highest intraday since Aug. 8 at 2.365 percent.

CANADA FX DEBT-C$ dips but on track to post biggest weekly gain in 3 months
 

Related Articles

Bitcoin falls 9.2% to $48,782
Bitcoin falls 9.2% to $48,782 By Reuters - Dec 04, 2021

(Reuters) - Bitcoin dropped 9.29% to $48,752.15 at 22:01 GMT on Saturday, losing $4,991.54 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is...

Bitcoin tumbles 5.5% to $53,436
Bitcoin tumbles 5.5% to $53,436 By Reuters - Dec 03, 2021

(Reuters) - Bitcoin plunged 5.5% to $53,435.9 at 22:04 GMT on Friday, losing $3,112.06 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email