Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsForexCryptocurrenciesCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Loonie rises to 11-day high on hopes virus impact will fade

share with twitter share with LinkedIn share with facebook
share via e-mail
02/14/2020 | 03:30pm EST
A Canadian dollar coin, commonly known as the

The Canadian dollar strengthened on Friday against its U.S. counterpart, adding to this week's gains as investors speculated that the coronavirus outbreak would not cause long-lasting damage to the global economy.

At 3:10 p.m. (2010 GMT), the Canadian dollar <CAD=D4> was trading 0.1% higher at 1.3249 to the greenback, or 75.48 U.S. cents. The currency touched its strongest intraday level since Feb. 3 at 1.3236.

For the week, the loonie was up 0.4%.

"The broader markets are still believing that China has got this (the spread of the coronavirus) under control," said Erik Bregar, head of FX strategy at the Exchange Bank of Canada. "It has created a mild risk-on environment and that benefits the Canadian dollar."

Canada is a major exporter of commodities, including oil, so the loonie tends to be sensitive to prospects for global economic growth.

U.S. crude oil futures settled 1.2% higher at $52.05 a barrel as investors bet the economic impact of the virus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown.

Canadian home sales fell 2.9% in January from the previous month but were up 11.5%, not seasonally adjusted, compared to January 2019, the Canadian Real Estate Association said.

Canada's Liberal government said it was deeply concerned about protests by aboriginal activists that are blocking some key railway lines but rejected a call to send in the police.

Canadian government bond yields were lower across a flatter yield curve in sympathy with U.S. Treasuries after a mixed U.S. retail sales report for January. The 10-year yield fell 3.1 basis points to 1.363%.

Canadian markets will be closed on Monday for the Family Day holiday.

By Fergal Smith

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) 0.09% 0.87448 Delayed Quote.-3.64%
BRITISH POUND / CANADIAN DOLLAR (GBP/CAD) 0.13% 1.72366 Delayed Quote.0.26%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) -0.17% 82.641 Delayed Quote.-0.74%
CANADIAN DOLLAR / SWISS FRANC (CAD/CHF) -0.26% 0.73021 Delayed Quote.-1.33%
CRB COMMODITY INDEX 0.10% 195.01 End-of-day quote.0.00%
LONDON BRENT OIL -1.33% 52.73 Delayed Quote.-13.77%
NEW ZEALAND DOLLAR / CANADIAN DOLLAR (NZD/CAD) 0.10% 0.83923 Delayed Quote.-3.82%
WTI -0.74% 48.03 Delayed Quote.-12.86%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news "Forex"
11:39pCar industry seeks support, free-trade Brexit deal, as output falls
11:32pOil falls for fifth day on demand concerns as coronavirus spreads
11:23pJPMorgan names veteran Gori as new Asia Pacific chief executive
11:16pNEWS HIGHLIGHTS : Top Company News of the Day
11:16pNEWS HIGHLIGHTS : Top Global Markets News of the Day
10:17pWaymo joins backlash against California self-driving data requirement
10:16pFacebook to ban misleading ads about coronavirus
10:09pAsian stocks slide deeper as pandemic fears grow
10:05pAsian stocks slide deeper as pandemic fears grow
09:52pDovish BOJ board member urges policy review, stronger steps to avert recession
Latest news "Forex"