tradingigbtc

CANADA FX DEBT-C$ steadies near 5-week high as risk appetite ebbs on vaccine worries

* Canadian dollar trades near flat against the greenback

* Loonie touches a five-week high intraday at 1.3095

* Price of U.S. oil increases 1.9%

* Canadian bond yields ease across a flatter curve

TORONTO, Oct 13 (Reuters) – The Canadian dollar was little
changed against its U.S. counterpart on Tuesday after the pause
of a high profile COVID-19 vaccine trial offset robust Chinese
trade data, with the currency holding near an earlier five-week
high.

Data showing that Chinese exports and imports climbed in
September boosted the price of oil, one of Canada’s major
exports.

U.S. crude oil futures rose 1.9% to $40.17 a barrel
but global equity markets were pressured by news that
Johnson & Johnson has paused its COVID-19 vaccine
candidate clinical trials because of an unexplained illness in a
study participant.

The Canadian dollar was trading nearly unchanged at
1.3105 to the greenback, or 76.31 U.S. cents. The currency
touched its strongest intraday level since Sept. 8 at 1.3095.

Last week, the Canadian dollar notched its largest gain
since early June, helped by a rebound in oil prices and hopes
for U.S. stimulus, as well as strong domestic jobs data.

Canadian government bond yields were lower across a flatter
curve in sympathy with U.S. Treasuries on Tuesday as Canada’s
market reopened following the Thanksgiving Day holiday.

The 10-year fell 3.6 basis points to 0.593%,
pulling back from its highest since Sept. 1 at 0.646% earlier in
the session.

(Reporting by Fergal Smith
Editing by Nick Zieminski)
(([email protected]; +1 647 480 7446;))

Keywords: CANADA FOREX/

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source Article