BROWSE

CANADA FX DEBT-Loonie advances to 2-1/2-month high as risk appetite climbs

The Canadian dollar strengthened against the greenback on Wednesday to its highest level in about two-and-a-half months as rising risk appetite helped to offset a pullback in oil prices. Shares on Wall Street rose as hopes that the global economy would recover from the coronavirus crisis overshadowed worries of tensions between the United States and China. Canada runs a current account deficit so the loonie tends to benefit from an improved outlook for the global flow of capital. "There's a bit more of a general risk-on tone," said Scott Lampard, head of global markets at HSBC Bank Canada. "I think there is a bit of a distorted effect in risk assets as a result of a huge amount of liquidity that is surging through markets." The Bank of Canada along with other major central banks has slashed interest rates and is engaged in a large-scale bond-buying program. The Canadian dollar was up 0.2% at 1.3755 to the greenback, or 72.70 U.S. cents. The currency touched its strongest intraday level since March 12 at 1.3727. U.S. crude oil futures settled 4.5% lower at $32.81 a barrel, pressured by U.S.-China tensions. Still, oil has rebounded from extreme low levels in April. The currency market is seeing less "fiscal strain" for Canada now that oil has rebounded, Lampard said. Canada's immigration minister expects the flow of people coming to live and work in the country to be a driver of economic growth following the coronavirus crisis, but economists say there may be fewer jobs waiting for them. Canadian housing starts will likely see a decline of 51% to 75% in 2020 from pre-COVID-19 levels, the national housing agency said. Canadian government bond yields were mixed across a flatter curve on Wednesday, with the 2-year up 1.3 basis points at 0.321%. (Reporting by Fergal Smith; Editing by Steve Orlofsky and Grant McCool) Our Standards:The Thomson Reuters Trust Principles.0 : 0narrow-browser-and-phonemedium-browser-and-portrait-tabletlandscape-tabletmedium-wide-browserwide-browser-and-largermedium-browser-and-landscape-tabletmedium-wide-browser-and-largerabove-phoneportrait-tablet-and-aboveabove-portrait-tabletlandscape-tablet-and-abovelandscape-tablet-and-medium-wide-browserportrait-tablet-and-belowlandscape-tablet-and-belowAppsNewslettersAdvertise with UsAdvertising GuidelinesCookiesTerms of UsePrivacyAll quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2020 Reuters. All Rights Reserved. window.RCOM_Data = {"header_yxhkyg0762":{"template":"header","evergreens":[{"url":"https://www.reuters.com/news/world","name":"World","sponsored":false},{"url":"https://www.reuters.com/finance","name":"Business","sponsored":false},{"url":"https://www.reuters.com/finance/markets","name":"Markets","sponsored":false},{"url":"https://www.reuters.com/politics","name":"Politics","sponsored":false},{"url":"https://www.reuters.tv/","name":"TV","sponsored":false}],"topics":[{"url":"https://www.reuters.com/brexit","name":"Brexit","sponsored":false},{"url":"https://www.reuters.com/subjects/sustainable-business","name":"Sustainability","sponsored":false},{"url":"https://www.reuters.com/subjects/myanmar-reporters","name":"Imprisoned In Myanmar","sponsored":false},{"url":"https://www.reuters.com/subjects/charged","name":"Future of Cars","sponsored":false},{"url":"https://www.reuters.com/places/venezuela","name":"Venezuela","sponsored":false},{"url":"https://www.reuters.com/the-world-at-work","name":"World At Work","sponsored":false},{"url":"https://www.reuters.com/breakingviews","name":"Breakingviews","sponsored":false},{"url":"","name":"","sponsored":false},{"url":"","name":"","sponsored":false},{"url":"","name":"","sponsored":false},{"url":"","name":"","sponsored":false},{"url":"","name":"","sponsored":false}],"featured_stories":[{"displayName":"Venezuela","url":"//www.reuters.com/investigates/special-report/venezuela-politics-flores/","image":"//pictures.reuters.com/Doc/RTR/Media/TR3_UNWATERMARKED/8/e/c/f/RTX1XGGS.jpg","headline":"U.S. takes aim at the power behind Maduro: his first lady","label":"specialreport"},{"displayName":"Huawei ","url":"//www.reuters.com/article/us-usa-huawei-tech-canada/huawei-mengs-u-s-extradition-case-hinges-on-key-ruling-in-canada-on-wednesday-idUSKBN233151","image":"//s2.reutersmedia.net/resources/r/?mu003d02u0026du003d20200527u0026tu003d2u0026iu003d1520020941u0026ru003dLYNXMPEG4Q0L4","headline":"CFO Meng loses key argument in fight against extradition"},{"displayName":"U.S.","url":"//www.reuters.com/article/idUSKBN2332LJ","image":"//s2.reutersmedia.net/resources/r/?mu003d02u0026du003d20200527u0026tu003d2u0026iu003d1520085954u0026ru003dLYNXMPEG4Q1JI","headline":"Author, AIDS policy advocate Larry Kramer dies at 84"},{"displayName":"Reuters Fact Check","url":"//www.reuters.com/fact-check","image":"//static.reuters.com/resources/media/global/assets/images/20200527/20200527_9533993320200527073920.jpg","headline":"Can you tell the truth from fiction? Let Reuters Fact Check help"},{"displayName":"Russia","url":"//www.reuters.com/article/us-health-coronavirus-russia-private-jet/private-jet-demand-rises-as-wealthy-russians-spend-lockdown-in-west-idUSKBN2331L1","image":"//static.reuters.com/resources/media/global/assets/images/20200527/20200527_9350275220200527112456.jpg","headline":"Private jet demand rises as wealthy Russians spend lockdown in West"},{"url":"/article/us-health-coronavirus-usa-casualties/u-s-coronavirus-deaths-top-100000-as-country-reopens-idUSKBN23334Z","image":"//pictures.reuters.com/Doc/RTR/Media/TR3_UNWATERMARKED/c/f/7/f/RTS38GUX.jpg","headline":"U.S. coronavirus deaths top 100,000 as country reopens"}],"render_key":"header_yxhkyg0762","menu":[{"url":"/home","name":"Home"},{"url":"/finance","name":"Business","children":[{"url":"/finance","name":"Business Home"},{"url":"/legal","name":"Legal"},{"url":"/finance/deals","name":"Deals"},{"url":"/subjects/aerospace-and-defense","name":"Aerospace u0026 Defense"},{"url":"/subjects/banks","name":"Finance"},{"url":"/subjects/autos","name":"Autos"},{"url":"/finance/summits","name":"Reuters Summits"},{"url":"/subjects/sustainable-business","name":"Sustainable Business"},{"url":"/the-world-at-work","name":"The World at Work"}]},{"url":"/finance/markets","name":"Markets","children":[{"url":"/finance/markets","name":"Markets Home"},{"url":"/finance/markets/us","name":"U.S. Markets"},{"url":"/finance/markets/europe","name":"European Markets"},{"url":"/finance/markets/asia","name":"Asian Markets"},{"url":"/finance/global-market-data","name":"Global Market Data"},{"url":"/markets/stocks","name":"Stocks"},{"url":"/markets/bonds","name":"Bonds"},{"url":"/markets/currencies","name":"Currencies"},{"url":"/markets/commodities","name":"Commodities"},{"url":"/finance/funds","name":"Funds"},{"url":"/finance/EarningsUS","name":"Earnings"},{"url":"/finance/markets/dividends","name":"Dividends"},{"url":"/finance/exchange-traded-funds","name":"Exchange-Traded Funds"},{"url":"/subjects/us-lipper-awards","name":"Lipper Awards"},{"url":"https://stockscreener.us.reuters.com/Stock/US/Index?quickscreenu003dgaarp","name":"Stock Screener"},{"url":"https://funds.us.reuters.com/US/screener/screener.asp","name":"Fund Screener"}]},{"url":"/news/world","name":"World","children":[{"url":"/news/world","name":"World Home"},{"url":"/news/us","name":"U.S."},{"url":"/subjects/specialReports","name":"Special Reports"},{"url":"//www.reuters.com/investigates/","name":"Reuters Investigates"},{"url":"/subjects/euro-zone","name":"Euro Zone"},{"url":"/subjects/middle-east","name":"Middle East"},{"url":"/places/china","name":"China"},{"url":"/places/japan","name":"Japan"},{"url":"/places/mexico","name":"Mexico"},{"url":"/places/brazil","name":"Brazil"},{"url":"/places/africa","name":"Africa"},{"url":"/places/russia","name":"Russia"},{"url":"/places/india","name":"India"}]},{"url":"/politics","name":"Politics","children":[{"url":"/politics","name":"Politics Home"},{"url":"/politics/us-election2020","name":"Election 2020"},{"url":"/subjects/supreme-court","name":"Supreme Court"},{"url":"https://graphics.reuters.com/USA-POLLING-TRUMP/0100422Q4HZ/index.html","name":"Polling on the President"}]},{"url":"/news/technology","name":"Tech","children":[{"url":"/news/technology","name":"Technology Home"},{"url":"/news/science","name":"Science"},{"url":"/news/media","name":"Media"},{"url":"/energy-environment","name":"Energy and Environment"}]},{"url":"/breakingviews","name":"Breakingviews","children":[{"url":"/breakingviews","name":"Breakingviews Home"},{"url":"/video/breakingviews","name":"Breakingviews Video"}]},{"url":"/finance/wealth","name":"Wealth","children":[{"url":"/finance/wealth","name":"Wealth Home"},{"url":"/finance/personal-finance/retirement","name":"Retirement"}]},{"url":"/news/lifestyle","name":"Life","children":[{"url":"/news/health","name":"Health"},{"url":"/news/sports/soccer","name":"Soccer"},{"url":"/news/sports","name":"Sports"},{"url":"/news/entertainment/arts","name":"Arts"},{"url":"/news/entertainment","name":"Entertainment"},{"url":"/news/oddlyEnough","name":"Oddly Enough"}]},{"url":"/news/pictures","name":"Pictures","children":[{"url":"/news/pictures","name":"Pictures Home"},{"url":"http://widerimage.reuters.com","name":"The Wider Image"},{"url":"http://widerimage.reuters.com/photographer","name":"Photographers"}]},{"url":"/video","name":"TV"}],"config":{"edition":"BETAUS","lang":"en","ad_slots":{"mobile_first_canvas_hb":"no","inline_flex_mobile_sizes":[[2.0,2.0],[1.0,1.0],[1100.0,375.0],[300.0,250.0],"fluid"],"mobile_canvas_sizes":[[1100.0,200.0],[1100.0,300.0],[300.0,250.0],[1.0,1.0]],"mobile_mpu2_type":"bizdevmobwebfooter_1","feed_ad_sizes":[[1100.0,375.0],[300.0,212.0],[300.0,250.0],[1.0,1.0],"fluid"],"mobile_canvas_hb":"no","mobile_mpu_type":"mpu","rr_mpu2_type":"bizdev_article_rr2","rr_big2_type":"bizdev_article_rr3","mobile_canvas_type":"leaderboard","rr_big2_sizes":[[300.0,440.0]],"bottom_article_slot1_sizes":[[1100.0,420.0],"fluid"],"rr_big_sizes":[[300.0,462.0],[300.0,372.0],[1.0,1.0]],"mobile_big_sizes":[[300.0,472.0],[1.0,1.0]],"rr_mpu_hb":"yes","bottom_article_slot1_type":"connatix","mobile_first_canvas_type":"leaderboard","inline_flex_sizes":[[2.0,2.0],[1.0,1.0],[1100.0,375.0],"fluid"],"inline_native_type":"native","mobile_big_type":"bizdevmobwebfooter","first_canvas_sizes":[[728.0,90.0],[970.0,250.0],[970.0,90.0],[1100.0,100.0],[1.0,1.0]],"inline_canvas_sizes":[[2.0,2.0],[1.0,1.0],[1100.0,375.0],"fluid"],"inline_native_sizes":[[2.0,2.0],[1.0,1.0],[1100.0,375.0],[3020.0,375.0],"fluid"],"canvas_hb":"yes","mobile_first_canvas_sizes":[[1100.0,200.0],[1100.0,100.0],[1.0,1.0]],"canvas_type":"leaderboard","rr_mpu_type":"mpu","bottom_article_slot2_type":"bizdev_article_center","feed_ad_type":"landing","leaderboard_low_type":"leaderboardlow","mobile_mpu2_sizes":[[300.0,250.0],[1.0,1.0]],"bottom_article_slot1_mobile_sizes":[[300.0,450.0],"fluid"],"mobile_feed_ad_sizes":[[1100.0,375.0],[300.0,212.0],[300.0,250.0],[1.0,1.0],"fluid"],"rr_mpu_sizes":[[300.0,250.0],[1.0,1.0]],"bottom_article_slot2_sizes":[[300.0,300.0],[1100.0,420.0],[1.0,1.0],"fluid"],"first_canvas_type":"leaderboard","leaderboard_low_sizes":[[728.0,90.0],[970.0,250.0],[1100.0,100.0],[1100.0,200.0],[1100.0,300.0],[1.0,1.0]],"inline_native_mobile_sizes":[[2.0,2.0],[1.0,1.0],[1100.0,375.0],[300.0,250.0],"fluid"],"first_canvas_hb":"yes","mobile_mpu_sizes":[[2.0,2.0],[1.0,1.0],[1100.0,375.0],[300.0,250.0],[3020.0,375.0],"fluid"],"canvas_sizes":[[728.0,90.0],[970.0,250.0],[970.0,90.0],[1100.0,100.0],[1100.0,200.0],[1100.0,300.0],[1.0,1.0],[2.0,2.0]],"rr_mpu2_sizes":[[300.0,280.0]],"rr_big_type":"bizdev_article_rr1"}}},"article_list_eqfqnn1ysy":{"template":"article_list","fisco_kyodo_disclaimer":"","render_key":"article_list_eqfqnn1ysy","quote_path":"/finance/stocks/overview","tracking_data":{"channel":"Article - Markets","content_type":"Article","content_type_channel":"Article - Markets","content_channel":"Markets - Bonds","topic_channel":"Markets","topic_subchannel":"Bonds","backend_channel":"bondsNews"},"dart_domain":"us.reuters","fisco_kyodo_key":"","sharetools":["twitter","facebook"],"video_url":"https://queso-cdn.prod.reuters.tv/new/index.html","trustBadge_excludedChannels":"false","first_article":{"id":"USL1N2D91XK","source":"Reuters","layout_type":"default","channel":{"text":"Bonds News","path":"/news/archive/bondsNews"},"headline":"CANADA FX DEBT-Loonie advances to 2-1/2-month high as risk appetite climbs","authors":[{"name":"Fergal Smith","journalist_url":"/journalists/fergal-smith"}],"shareUrl":"https://reut.rs/2M8aqfi","published":1590611902,"updated":0,"path":"/article/canada-forex/canada-fx-debt-loonie-advances-to-2-1-2-month-high-as-risk-appetite-climbs-idUSL1N2D91XK","body":"u003cpreu003e (Adds dealer quotes and currency details; updates prices)n * Canadian dollar rises 0.2% against the greenbackn * Loonie touches its strongest since March 12 at 1.3727n * Price of U.S. oil decreases 4.5%n * Canadian bond yields trade mixed across a flatter curvenn By Fergal Smithn TORONTO, May 27

Comments are closed.