TORONTO — The Canadian dollar weakened to a clean six-week
low against its broadly less attackable U.S. counterpart on Thursday as Federal
Reserve interest rate hike eculation weighed on commodity markets, even as
domestic statistics become weaker than anticipated.
The U.S. dollar rose in opposition to a basket of important
currencies, supported with the aid of a perceived increase in possibilities of
a upward thrust in U.S.
interest prices by using September after hawkish Fed mins on Wednesday.
The fee of Canadian wholesale alternate dropped via a
deeper-than-anticipated 1.zero in keeping with cent in March, pulled down in
element with the aid of weaker sales within the motor motors and elements
subsector, information Canada
stated. In volume phrases, the drop in sales changed into less reported at 0.4
in line with cent.
At 9:19 a.m. EDT (1319 GMT), the Canadian greenback turned
into buying and selling at $1.3139 to the dollar, or US76.11 cents, lots weaker
than Wednesday’s near of $1.3023, or US6.79 cents.
The foreign money’s strongest degree of the consultation
changed into $1.3012, while it hit its weakest when you consider that April 8
of $1.3155.
Firefighters fighting
a wildfire that has threatened oilsands facilities north of fortress McMurray,
Alta. appeared to cooler weather and the promise of rain on Thursday. The
hearth has surged north of fort McMurray
this week, forcing the evacuation of eight,000 oilsands workers and prolonging
a shutdown that has cut Canadian oil output by means of one million barrels a
day.
Canadian government bond expenses had been mixed across the
maturity curve, with the two-year price flat to yield zero.sixty four
consistent with cent and the benchmark 10-year falling 1 Canadian cent to yield
1.369 per cent.
the ten-12 months yield touched its highest due to the fact
that may additionally 5 of one.394 according to cent.
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