CANADA FX DEBT-C$ hits 19-month low as falling oil prices offset GDP gain By Reuters

© Reuters. CANADA FX DEBT-C$ hits 19-month low as falling oil prices offset GDP gain

* Canadian dollar falls 0.2 percent against the greenback

* touches its weakest since May 2017 at 1.3564

* Canadian GDP rises 0.3 percent in October

* Price of U.S. oil falls 1.1 percent

* Bond prices trade mixed across a flatter yield curve

TORONTO, Dec 21 (Reuters) – The Canadian dollar weakened to a 19-month low against its U.S. counterpart on Friday as stocks and the price of oil fell, offsetting data showing stronger than expected growth in the domestic economy.

The Canadian economy expanded by 0.3 percent in October from September, pushed higher by strength in manufacturing, finance and insurance, Statistics Canada data indicated. Analysts had predicted an increase of 0.2 percent. data from Statistics Canada showed that the value of Canadian retail trade rose by 0.3 percent in October from September, thanks largely to higher sales at motor vehicle dealers and gasoline stations. were pressured by increasing worries of slowing global growth and the threat of a U.S. government shutdown. price of oil, one of Canada’s major exports, extended its recent decline as global oversupply kept buyers away from the market ahead of the long holiday break. The price of U.S. crude was down 1.1 percent at $45.36 a barrel. 8:58 a.m. (1358 GMT), the Canadian dollar CAD=D4 was trading 0.2 percent lower at 1.3539 to the greenback, or 73.86 U.S. cents. The currency touched its weakest level since May 2017 at 1.3564.

Canadian government bond prices were mixed across a flatter yield curve, with the two-year down 0.5 Canadian cent to yield 1.927 percent and the 10-year rising 14 Canadian cents to yield 1.998 percent.

On Thursday, the 10-year yield hit its lowest intraday in one year at 1.944 percent.

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.

Source link

Leave a Reply

error: Content is protected !!