01192017Thu
Last update: Thu, 19 Jan 2017 01pm

Americas

Markets - FXMM - Americas

C$ rises to near 3-month high on oil; dollar slides TORONTO: The Canadian dollar strengthened to a near 3-month high against its US counterpart on Thursday as oil prices rose and the greenback extended losses that began after US President-elect Donald Trump's news conference a day earlier.The US dollar fell against a basket of major currencies, pressured by a loss of confidence in the US reflation trade which has dominated markets since Trump's election.The price of oil, one of Canada's major exports, rose on reports key OPEC members were cutting production as promised and on forecasts of strong demand growth in China.US crude prices were up 2.26 percent at $53.43 a barrel.At 9:19 a.m. ET (1419 GMT), the Canadian dollar was trading at C$1.3093 to the greenback, or 76.38 US cents, stronger than Wednesday's close of C$1.3177, or 75.89 US cents.The currency's weakest level of the session was C$1.3195, while it touched its strongest since Oct. 19 at C$1.3028.Gains for ...

Markets - FXMM - Americas

C$ slightly weaker as all eyes on Trump TORONTO: The Canadian dollar weakened slightly against its US counterpart early on Wednesday, with investors bracing for clues about US President-elect Donald Trump's likely trade, tax and fiscal policy direction at a morning news conference.The loonie, as the currency is colloquially known, has settled at the strong end of a recent range in the last few trading sessions.At 8:49 a.m. ET (1349 GMT), the Canadian dollar was trading at C$1.3235 to the greenback, or 75.56 ...

Markets - FXMM - Americas

C$ strengthens as oil rises, housing starts jump TORONTO: The Canadian dollar edged higher against its US counterpart on Tuesday as oil rose and stronger-than-expected domestic housing starts suggested the country's long housing boom may not yet be over.Housing starts rose to a seasonally adjusted annual rate of 207,041 units in December from an upwardly revised 187,273 units in November, the Canada Mortgage and Housing Corp said. Economists polled by Reuters had expected starts to rise to a 195,000 unit pace.Prices of oil, ...

Markets - FXMM - Americas

C$ firms after unexpectedly strong Canadian jobs, trade data TORONTO: The Canadian dollar touched its strongest level against the US dollar in more than three weeks on Friday following surprisingly strong employment and trade data.Canada's economy unexpectedly added 53,700 jobs in December, all of them full-time positions, and the unemployment rate edged higher, according to government data. It also posted a trade surplus of C$526 million, its first since September 2014, as exports jumped and imports posted a modest gain. Economists, on average, were ...

Markets - FXMM - Americas

Canadian dollar to weaken on NAFTA uncertainty, Fed rate hikes TORONTO: The Canadian dollar will weaken against its US counterpart this year, pressured by trade agreement uncertainty and probable monetary policy divergence between the Federal Reserve and the Bank of Canada, a Reuters poll found on Friday. The loonie rallied 3 percent in 2016 and has gained additional ground at the start of 2017, helped by recent strength in the price of oil, one of Canada's major exports. But the poll of more than 40 ...

Markets - FXMM - Americas

Dollar hits 3-week low as US data fails to override yuan surge NEW YORK: The dollar fell to a three-week low against a basket of major currencies on Thursday after US inflation and unemployment data failed to reverse a downtrend that followed some of the biggest gains on record for China's yuan. A rise in overnight borrowing costs in Hong Kong and growth in China's services sector to a 17-month high last month helped put the offshore yuan on pace for the biggest two-day rise since its ...

Markets - FXMM - Americas

C$ jumps to near 3-week high amid upbeat global data TORONTO: The Canadian dollar strengthened to a near three-week high against its US counterpart on Wednesday, together with gains for other commodity-linked currencies after upbeat global economic data.A batch of reports from Europe showed that French consumer confidence hit a nine-year high, business activity across the euro zone rose at the fastest pace in more than five years and inflation in the euro zone is its highest in over three years. This followed similarly upbeat ...