Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Loonie trades near flat as BoC rate decision looms next week

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/17/2020 | 09:35am EST
A Canadian dollar coin, commonly known as the

The Canadian dollar was little changed against its U.S. counterpart on Friday, extending its recent holding pattern as the greenback broadly rose and investors awaited an interest rate decision next week from the Bank of Canada.

The central bank is expected to leave its benchmark interest rate on hold at 1.75% next Wednesday, when it will also update its economic outlook.

A revival in the Canadian economy may already be under way, according to a Reuters poll of economists, who were mostly confident a rate cut was not needed and so predicted monetary policy would remain unchanged this year.

The U.S. dollar gained ground against a basket of major currencies, supported by data on Wednesday showing an encouraging rise in U.S. retail sales data.

At 9:16 a.m. (1416 GMT), the Canadian dollar <CAD=D4> was trading nearly unchanged at 1.3044 to the greenback, or 76.66 U.S. cents. The currency, which has been in a sideways trading pattern since hitting a near two-week low last Thursday at 1.3104, traded in a range of 1.3034 to 1.3058.

For the week, the loonie was also little changed.

Global stocks and the price of oil, one of Canada's major exports, rose. They were buoyed by the signing this week of a trade deal between the United States and China, while data on Friday showed that China ended 2019 on a somewhat firmer note.

U.S. crude oil futures were up 0.4% at $58.74 a barrel.

Foreign investors sold a net C$1.75 billion in Canadian securities in November, led by private corporate instruments, following a revised C$11.32 billion total purchase in October, Statistics Canada said.

Canadian government bond prices were lower across the yield curve, with the 10-year falling 12 Canadian cents to yield 1.567%.

(Reporting by Fergal Smith; Editing by Nick Zieminski)

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) -0.03% 0.8911 Delayed Quote.-1.67%
BRITISH POUND / CANADIAN DOLLAR (GBP/CAD) -0.03% 1.72155 Delayed Quote.-0.19%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) 0.05% 82.619 Delayed Quote.-1.20%
CANADIAN DOLLAR / SWISS FRANC (CAD/CHF) 0.07% 0.73585 Delayed Quote.-1.04%
LONDON BRENT OIL 0.34% 59.11 Delayed Quote.-6.00%
NEW ZEALAND DOLLAR / CANADIAN DOLLAR (NZD/CAD) 0.01% 0.8628 Delayed Quote.-0.89%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
12:17aCoronavirus infects Asia stocks with exposure to China
RE
12:16aNEWS HIGHLIGHTS : Top Financial Services News of the Day
DJ
12:13aFacebook, others restrict business travel to China as warnings grow
RE
12:10aCANADIAN CHAMBER OF COMMERCE : to Ring the Opening Bell at Toronto Stock Exchange
PU
01/27SOUTHEAST ASIA STOCKS : Singapore falls 3% on worries of economic impact from virus
RE
01/27Japan government nominates reflationist-minded economist to join BOJ board
RE
01/27CENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : China to ensure market supply of daily necessities
PU
01/27Oil falls for sixth day as China virus raises global growth, demand concerns
RE
01/27Oil falls for sixth day as China virus raises global growth, demand concerns
RE
01/27NEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
Latest news "Economy & Forex"