AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)
Markets

Canadian dollar advances as investors bet on U.S. stimulus

  • World stocks scaled new peaks after lawmakers and aides said that Congressional negotiators were closing in on a $900 billion COVID-19 aid bill in the United States.
Published December 17, 2020

TORONTO: The Canadian dollar strengthened against its U.S. counterpart on Thursday as investors grew more hopeful that lawmakers in Washington would agree to a stimulus bill, with the loonie approaching the 2-1/2-year high it touched earlier this week.

World stocks scaled new peaks after lawmakers and aides said that Congressional negotiators were closing in on a $900 billion COVID-19 aid bill in the United States.

The safe-haven U.S. dollar fell against a basket of major currencies and the price of oil, one of Canada's major exports, moved higher. U.S. crude oil futures were up 0.6pc at $48.12 a barrel.

The Canadian dollar was trading 0.3pc higher at 1.2707 to the greenback, or 78.70 U.S. cents, having traded in a range of 1.2697 to 1.2750. On Tuesday, the loonie touched its strongest level since April 2018 at 1.2684.

Canadian home prices rose 0.9pc in November from October, the Teranet-National Bank Composite House Price Index showed. It was the strongest gain for the month in the index's 22 years.

Household spending has so far led Canada's economic recovery but to be sustainable, exports, productivity and business investment need to do better, Bank of Canada Governor Tiff Macklem said on Tuesday.

Canada's retail sales report for October is due on Friday.

Canadian government bond yields were little changed across the curve, with the 10-year up 0.3 basis points at 0.731pc.

Comments

Comments are closed.