05282016Sat
Last update: Sat, 28 May 2016 03am

Americas

Markets - FXMM - Americas

C$ weakens to 4-week low on China trade data, lower oil prices TORONTO/OTTAWA: The Canadian dollar weakened to a more than four-week low against the greenback on Monday as China's trade data disappointed and oil prices turned lower.The loonie has fallen 4 percent from a 10-month high last week after weaker-than-expected domestic trade data and wildfire-driven oil production cuts in Alberta's oil sands region hurt Canada's economic outlook.Economists say second-quarter growth may slow to a standstill, leaving the central bank on hold.Investors have also been recalibrating their economic forecasts following last week's disappointing trade data. Strengthening exports are key to the Bank of Canada's outlook."It was really the trade data that in our view started to reshape expectations," said David Tulk, chief Canada macro strategist at TD Securities.After the pessimism at the start of the year, sentiment had arguably swung to being too optimistic, said Tulk.Speculators have increased bullish bets on the Canadian dollar, Commodity Futures Trading Commission data showed on Friday. ...

Markets - FXMM - Americas

Dollar rallies, yen slides NEW YORK: The dollar rallied against most peers Monday at the start of a light US economic calendar week, while the yen fell on fresh suggestions of intervention by Japanese officials."It's a new trading week and the US dollar is the strongest currency. For the past three months, the dollar has been beaten down but now the bulls are back in control," said Kathy Lien of BK Asset Management.Last Friday's US jobs report missed market ...

Markets - FXMM - Americas

Yen slumps on intervention warning, higher risk appetite NEW YORK: The yen dropped to a two-week low against the dollar on Monday after Japan's finance minister said Tokyo was ready to intervene in the currency market if needed, with stronger risk sentiment also easing demand for traditional safe havens such as the Japanese currency.A tentative rise in risk appetite was partly tied to Wall Street's overall positive tone and a rebound in European stock markets following their worst week since early February.The yen ...

Markets - FXMM - Americas

C$ weakens to 3-week low on China trade data, lower oil prices TORONTO: The Canadian dollar weakened to a three-week low against its US counterpart on Monday, tracking losses for other commodity currencies after China's trade data disappointed and oil prices turned lower.The loonie has fallen 4 percent from a 10-month high last week of C$1.2461 after weaker-than-expected domestic trade data and wildfire-driven oil production cuts in Alberta's oil sands region hurt Canada's economic outlook.Economists say second-quarter growth may slow to a standstill, leaving the central bank ...

Markets - FXMM - Americas

C$ falls as oil rally cools, job market stalls TORONTO: The Canadian dollar weakened to a fresh two-week low against its US counterpart on Friday as oil prices fell and Canada's labor market stalled, while a wildfire in Alberta weighed on the country's economic outlook.Canada lost 2,100 jobs in April as the oil-rich province of Alberta shed still more jobs in its natural resources sector, data from Statistics Canada showed. Economists had forecast that the labor force would be unchanged after a strong gain ...

Markets - FXMM - Americas

Oil supports C$ but economic unease offsets gains TORONTO/OTTAWA: The Canadian dollar was little changed against the greenback on Thursday as the benefit from a rally in oil was tempered by worries that economic growth could be weaker than anticipated.Still, the slight gain was a reprieve after a more than 2 percent drop over the past two sessions as weaker-than-expected trade data released this week has weighed on Canada's growth outlook.BMO Capital Markets cut its estimate for first-quarter growth to 2.9 percent annualized ...

Markets - FXMM - Americas

C$ strengthens as oil rallies TORONTO: The Canadian dollar strengthened against its US counterpart on Thursday as oil rallied and stocks rose, while investors turned attention to upcoming jobs data in the US and Canada.The strengthening of the loonie comes one day after it plunged to a two-week low of C$1.2886, pressured by weak domestic trade data and a wildfire that cut production in Canada's oil sands region.Supportive of the risk-sensitive commodity-linked currency, US and Canadian stocks opened higher, while ...