06282016Tue
Last update: Tue, 28 Jun 2016 06pm

Americas

Markets - FXMM - Americas

C$ rises to highest level of the week as oil rallies TORONTO/OTTAWA: The Canadian dollar strengthened against the greenback to its highest level of the week on Wednesday as energy prices rallied and investors consolidated after a recent rapid decline.Oil jumped after US crude inventories unexpectedly fell for the first time since March. US crude prices ended up $1.57 at $46.23 a barrel.The gains in oil helped the commodity-sensitive currency rise for the second day in a row after tumbling at the start of the month. Still, that decline gave back only a small part of the about 14 percent gain it made between late January and the end of April.In a quiet week for domestic data and without any other major catalysts, the Canadian dollar will likely stick to a well-worn range of C$1.28 to C$1.3050, said Don Mikolich, executive director of foreign exchange sales at CIBC Capital Markets."In US dollar-Canadian dollar, it felt we had exhausted the move to ...

Markets - FXMM - Americas

C$ strengthens as focus shifts to oil sands restarts TORONTO: The Canadian dollar strengthened to a five-day high against its US counterpart on Wednesday as attention shifted to restarting production in Alberta's oil sands, although some gains for the currency were pared as oil turned lower.Production in much of the oil sands region should ramp up soon, top provincial and industry officials said on Tuesday as a wildfire threat eased.Roughly 1 million barrels per day of output has been lost to the fire, about ...

Markets - FXMM - Americas

Yen down as Japanese officials talk forex intervention NEW YORK: The yen retreated Tuesday after Japan's finance minister reiterated warnings about intervening in the foreign exchange market to counter a surge in the Japanese currency's value.Both the dollar and the euro charged higher against the yen Tuesday after finance minister Taro Aso repeated warnings about possible action, after saying Monday that Tokyo was "prepared to intervene" in markets.That followed recent similar comments from Prime Minister Shinzo Abe, who has warned over the negative ...

Markets - FXMM - Americas

Yen skids to near 2-week low on higher risk appetite, Japan warning NEW YORK: The yen dropped to a nearly two-week low against the dollar on Tuesday as risk appetite improved for a second straight session, undermining traditional safe havens such as the Japanese currency.Repeated verbal warnings from Japan over the weekend and on Tuesday saying it was prepared to step in to weaken the currency also held off investors seeking to buy the yen at the expense of the dollar. The greenback has struggled recently with ...

Markets - FXMM - Americas

C$ steadies after recent losses as oil rises TORONTO: The Canadian dollar was unchanged against its US counterpart on Tuesday as oil prices rose, while attention turned to when production will be brought back on line in Canada's oil sands region.Oil sands companies are expected to work as quickly as possible to resume wildfire-disrupted production, but face the challenge of staff and suppliers being displaced.About half of the region's crude output, or 1 million barrels per day, has been taken offline, according to ...

Markets - FXMM - Americas

Yen falls vs dollar for 2nd day to near two-week low NEW YORK: The yen slid to a nearly two-week low against the dollar on Tuesday as risk appetite improved for a second straight session, undermining traditional safe havens such as the Japanese currency.Repeated verbal warnings from Japan over the weekend and on Tuesday saying it was prepared to step in to weaken the currency has also held off investors seeking to buy the yen at the expense of the dollar. The greenback has struggled recently ...

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 ...