Money: Canadian dollar dips as oil falls, investors demand greenbacks - PressFrom - Canada
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MoneyCanadian dollar dips as oil falls, investors demand greenbacks

08:55  12 february  2019
08:55  12 february  2019 Source:   reuters.com

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CANADA FX DEBT-: C$ dips with oil but clings to most of 2019 gains. 4:31 PM ET Mon, 4 Feb 2019. TORONTO, Jan 17- The Canadian dollar weakened to its lowest in more than one week against the greenback as oil prices fell , but the currency pared losses as investors weighed a

The Canadian dollar edged lower against its U.S. counterpart on Monday as oil prices fell and investors focused on negotiations to update the North American Free Trade Agreement. Oil , one of Canada ’s major exports, eased as traders were wary of betting too heavily on which way prices might

Canadian dollar dips as oil falls, investors demand greenbacks© Reuters/Mark Blinch FILE PHOTO: A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto

By Fergal Smith

TORONTO (Reuters) - The Canadian dollar edged lower against its U.S. counterpart on Monday as oil prices fell and investors sought to own greenbacks, betting that the U.S. currency would fare best as the global economy slows.

The U.S. dollar <.DXY> jumped as concerns grew that the latest round of U.S.-China talks may not yield a deal between the world's largest economies before the March deadline.

"People want to be long U.S. dollars here," said Scott Lampard, head of global markets at HSBC Bank Canada. "The sense is that the rest of the world is slowing at a pace that is more rapid than the U.S."

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www. investing .com/analysis/usdcad-- canadian - dollar - dips - as - greenback -recovers-200340276. Fed Chair Jerome Powell will address the Jackson Hole Symposium on Friday, and investors will be listening carefully. Powell is expected to refer to trade tensions, as well as the fact that inflation and

The Canadian dollar weakened to a nearly seven-week low against its U.S At 4 p.m. EST (2000 GMT), the Canadian dollar CAD =D4 was trading 0.5 percent lower at C.2952 to the greenback , or Losses for the loonie came as investors weighed prospects for the North American Free Trade

Canada is a major producer of commodities, including oil, so its economy could be hurt by a slowdown in the global economy.

Oil prices fell as worries surrounding the resumption of U.S.-China trade talks overshadowed support from OPEC-led supply restraint. U.S. crude oil futures settled 0.6 percent lower at $52.41 a barrel. At 4 p.m. (2100 GMT), the Canadian dollar was trading 0.1 percent lower at 1.3300 to the greenback, or 75.19 U.S. cents. The currency, which touched on Friday its weakest intraday level in two weeks at 1.3329, traded in a range of 1.3261 to 1.3319. Still, the New Zealand dollar was the only G10 currency other than the greenback to outperform the loonie. It follows Canadian data last Friday showing bumper jobs numbers in January that far exceeded market expectations and highlighted the strength of the economy.

"You have got the bond market looking at the strength of the labor market in Canada and saying we feel like higher rates are warranted," Lampard said.

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The Canadian dollar edged lower against its U.S. counterpart on Thursday, paring some of the previous day's gains as oil prices fell and the greenback Stocks held onto those gains on Thursday, with investors increasingly taking a wait-and-see approach as the United States and China make

The Canadian dollar edged lower against its U.S. counterpart on Monday as oil prices fell and investors Oil , one of Canada 's major exports, eased as traders were wary of betting too heavily on which Canada and Mexico will not make counterproposals to U.S. demands for tougher NAFTA

The Bank of Canada has raised interest rates by a total of 125 basis points since July 2017. Chances of another hike before the end of the year have climbed since the jobs data to more than 30 percent from 13 percent, the overnight index swaps market indicated.

Canadian government bond prices on Monday were lower across the yield curve in sympathy with U.S. Treasuries, as investors awaited U.S. data this week that will show inflation pressures in January.

The two-year fell 4 Canadian cents to yield 1.792 percent and the 10-year declined 25 Canadian cents to yield 1.910 percent.

(Reporting by Fergal Smith; Editing by Lisa Shumaker)

Stocks rally in Toronto while U.S. falls.
TORONTO - A broad-based rally in Toronto helped Canada's main stock index gain ground in late-morning trading while U.S. stock markets pulled back. The S&P/TSX composite index was up 70.59 points at 15,697.32. In New York, the Dow Jones industrial average was down 141.43 points at 25,401.84. The S&P 500 index was down 12.21 points at 2,740.82, while the Nasdaq composite was down 10.09 points at 7,410.29. The Canadian dollar traded for 75.08 cents US compared with an average of 75.53 cents US on Wednesday. The March crude contract down 10 cents at US$53.80 per barrel and the March natural gas contract was up 2.9 cents at US$2.604 per mmBTU. The April gold contract was down US$3.

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