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Markets - FXMM - Americas

C$ weakens on widening Canada-US yield spreads TORONTO: The Canadian dollar weakened against its US counterpart on Friday, pressured by the recent fall in Canada's bond yields below US yields as investors braced for divergence in monetary policy between the Federal Reserve and the Bank of Canada.Losses for the loonie came despite higher prices for oil, one of Canada's major exports, as producers showed signs of adhering to a global deal to reduce output.US crude prices were up 1.02 percent at $51.42 a barrel.The US dollar held onto gains since the Fed on Wednesday increased interest rates and signaled increases would follow at a faster pace next year.Wider short-term spreads between Canada and the US "remain significant net drags" on the Canadian dollar, Shaun Osborne, chief FX strategist at Scotiabank, said in a research note.Canada's two-year yield has fallen 4 basis points further below its US equivalent this week to a spread of -43 basis points.Strategists expect ...

Markets - FXMM - Americas

Strong US dollar could challenge Trump agenda NEW YORK: The strong US dollar, boosted further by the Federal Reserve's decision to raise interest rates, could pose challenges to President-elect Donald Trump's economic agenda. The greenback shot to fresh multi-year highs against the euro and other currencies Thursday following the Fed's move Wednesday to increase the benchmark lending rate and its signal about additional rate increases in 2017.The US currency already had been on an upward trajectory after Trump's election, amid expectations he ...

Markets - FXMM - Americas

C$ posts 8-week high ahead of Fed rate decision TORONTO: The Canadian dollar strengthened to an eight-week high against its US counterpart on Wednesday as broader losses for the greenback ahead of a Federal Reserve interest rate decision eclipsed a dip in oil prices and mixed domestic data.The US dollar lost ground against a basket of major currencies as investors braced for the first Fed rate increase in a year and weighed what the central bank may do in 2017.The loonie has gained steadily ...

Markets - FXMM - Americas

Dollar steady as traders await clarity on Fed rate hike path NEW YORK: The US dollar was steady against a basket of major currencies on Tuesday on uncertainty over whether the US Federal Reserve would signal a slow or fast pace of interest rate increases at the end of a closely-watched policy meeting. The Fed is widely expected to hike interest rates on Wednesday. It is less clear, however, if the central bank will indicate a more cautious pace of rate increases given a recent surge ...

Markets - FXMM - Americas

C$ strengthens for fifth straight day as oil climbs TORONTO: The Canadian dollar strengthened for the fifth straight day against its US counterpart on Tuesday, posting a near eight-week high as higher oil prices offset expected monetary policy divergence between the US and Canada.US crude prices were up 0.66 percent at $53.18 a barrel, supported by strong demand in Asia and supply cuts by Abu Dhabi, Kuwait and Qatar as part of production curbs organized by the Organization of the Petroleum Exporting Countries and ...

Markets - FXMM - Americas

C$ weakens as oil retreats, export volumes fall         TORONTO: The Canadian dollar weakened against its US counterpart on Tuesday as oil fell and domestic trade data showed a disappointing drop in export volumes.Canada posted a smaller-than-expected trade deficit of C$1.13 billion in October, down from a record C$4.38 billion shortfall in September, when a one-time shipment of oil machinery boosted imports, Statistics Canada data showed."What the Bank of Canada will pay more attention to is the seven-tenths decline in export volumes on the month," said Scotiabank Vice President Derek Holt. ...

Markets - FXMM - Americas

Dollar index pares losses after ISM US services data   NEW YORK: The dollar trimmed losses on Thursday against a group of currencies as a private-sector report showed the services sector grew faster-than-forecast in November, supporting the view the US economy is expanding at a solid clip in the fourth quarter.  The dollar index, which measures the value of the greenback versus the euro, yen and four other currencies, was down 0.16 percent at 101.34, which was above its session low of 101.06.      Copyright Reuters, 2016 ...