Saturday, 18 May 2013 03:58
Posted by Abdul Ahad
TORONTO: The Canadian dollar closed weaker against its US counterpart on Friday after touching its softest level in more than two months on inflation data that was both far below expectations and well off the Bank of Canada's target range.Annual inflation fell in April to 0.4 percent from 1.0 percent in March, its lowest level since the 0.1 percent hit in October 2009 and far below the central bank's target range of 1 to 3 percent. Analysts had expected no change from March to April.The data pushed the Canadian dollar to a session low C$1.0313, or 96.96 US cents, its weakest point since March 8 and well below Thursday's North American session close at C$1.0192, or 98.12 US cents.It recovered some ground later to finish the day at C$1.0291 versus the US dollar, or 97.17 US cents, ending a two-month rally that had taken the currency close to parity, as ...
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TORONTO: The Canadian dollar closed weaker against its US counterpart on Friday after touching its softest level in more than two months on inflation data that was both far below expectations and well off the Bank of Canada's target range.Annual inflation fell in April to 0.4 percent from 1.0 percent in March, its lowest level since the 0.1 percent hit in October 2009 and far below the central bank's target range of 1 to 3 percent. Analysts had expected no change from March to April.The data pushed the Canadian dollar to a session low C$1.0313, or 96.96 US cents, its weakest point since March 8 and well below Thursday's North American session close at C$1.0192, or 98.12 US cents.It recovered some ground later to finish the day at C$1.0291 versus the US dollar, or 97.17 US cents, ending a two-month rally that had taken the currency close to parity, as ...
NEW YORK: The US dollar dropped against the euro and Japanese yen on Thursday as a deluge of data highlighted vulnerabilities in the US economy and curbed expectations the Federal Reserve will scale back its bond-buying program any time soon.The dollar snapped a five-day advance against the euro after data showed the number of Americans filing new claims for unemployment benefits climbed last week to the fastest pace in six months, raising concerns about government ...
TORONTO: The Canadian dollar lost steam against its US counterpart on Thursday after a top Federal Reserve official said a good outlook on jobs meant the US central bank might scale back on its monetary easing as early as this summer.The comments provoked a strong reaction in currency and bond markets, with 10-year US Treasuries bouncing higher and the greenback gaining against most major currencies and particularly those tied to commodity-based economies.The Canadian dollar's slip ...
NEW YORK: The US dollar recovered to trade higher against the euro and yen late Thursday afternoon in a volatile session that saw the US currency swing between gains and losses.The move higher came after John Williams, president of the Federal Reserve Bank of San Francisco, said the US Federal Reserve could begin easing up on the monetary gas pedal this summer and end its bond buys late this year0..His remarks offset the negative sentiment ...
MEXICO CITY: Latin American currencies lost steam on Wednesday as disappointing economic data out of Europe and the United States dulled investor enthusiasm for higher-risk assets.The Brazilian real and the Mexican peso both edged lower as data showed the euro zone economy contracted for a sixth straight quarter while France slid into recession.In the United States, where signs of recovery have fueled expectations that the Federal Reserve may wind down its asset purchase program by ...
NEW YORK: A fresh report showing the eurozone still mired ina pause in its downward slide.The euro was flat in early Asian trade but slid immediately after EU data agency Eurostat reported the eurozone economy shrank 0.2 percent in the January-March quarter, the sixth consecutive quarterly contraction.At 2100 GMT, the euro bought $1.2884, down from 1.2924 late Tuesday. The common currency pulled off its day's low of $1.2843 in afternoon US trade.Meanwhile the dollar e ...
