- November 20, 2018
- Posted by: Trading
- Category: News
* Canadian dollar falls 0.4 percent against the greenback
* Price of U.S. oil falls 2.2 percent
* Canada’s 10-year yield hits a two-month low at 2.335 percent
TORONTO, Nov 20 (Reuters) – The Canadian dollar weakened on Tuesday to its lowest in five days against a broadly stronger U.S. counterpart as oil prices fell and a selloff in world stock markets continued.
U.S. stocks were pressured by poor forecasts from retailers. Investor concerns about demand for iPhones and conflicting signals over the state of play between the United States and China on their trade dispute have also weighed this week on equity markets. exports many commodities, including oil, so its economy could be hurt if the global flow of trade or capital slows.
The price of oil snapped a four-day winning streak amid concerns about rising global supplies as OPEC weighs a possible cut in production. U.S. crude prices were down 2.2 percent at $55.97 a barrel. 9:38 a.m. (1438 GMT), the Canadian dollar was trading 0.4 percent lower at 1.3223 to the greenback, or 75.63 U.S. cents. The currency touched its weakest level intraday since last Thursday at 1.3225.
The U.S. dollar climbed against a basket of major currencies as nervousness about Italian banks weighed on the euro. of Canada Senior Deputy Governor Carolyn Wilkins will speak about major public policy issues around monetary policy frameworks. The central bank will release her prepared remarks at 12:45 p.m. (1745 GMT).
Canadian government bond prices were mixed across the yield curve, with the two-year price flat to yield 2.211 percent and the 10-year rising 10 Canadian cents to yield 2.345 percent.
The 10-year yield touched its lowest intraday since Sept. 14 at 2.335 percent.
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