(Provides strategist quote and particulars on exercise; updates costs)
(Provides strategist quote and particulars on exercise; updates costs)
* Loonie touches its strongest since February 2018 at 1.2442
* Canadian residence gross sales rise 6.6% in February from January
* Worth of U.S. oil settles 0.3% decrease
* Canada’s 10-year yield touches a 14-month excessive at 1.602%
By Fergal Smith
TORONTO, March 15 (Reuters) – The Canadian greenback was little
modified towards its U.S. counterpart on Monday because the dollar
broadly climbed forward of a Federal Reserve assembly this week and
oil costs fell, with the loonie pulling again from an earlier
three-year excessive.
The loonie was buying and selling practically unchanged at 1.2466 to
the dollar, or 80.22 U.S. cents, having touched its strongest
intraday stage since February 2018 at 1.2442.
The loonie was boosted on Friday by knowledge exhibiting that Canada
added extra jobs than anticipated in February.
“We don’t exclude the chance of a squeeze increased within the USD
within the quick run and notice that intraday worth motion right now would possibly
nicely be hinting {that a} USD push increased is creating,”
strategists at Scotiabank, together with Shaun Osborne, mentioned in a
notice.
The U.S. greenback gained for a 3rd straight session
as merchants reduce their bearish bets on the dollar to four-month
lows amid the current rise in U.S. Treasury yields and grew
cautious forward of the Fed’s coverage resolution on Wednesday.
The worth of oil , one in all Canada’s main exports,
consolidated some current features. U.S. crude costs settled
0.3% decrease at $65.39 a barrel.
Canadian residence gross sales and costs continued to surge in
February, rising 6.6% from January to set a brand new document amid
robust demand throughout a lot of the nation, knowledge from the Canadian
Actual Property Affiliation confirmed.
Canada’s inflation report for February is due on Wednesday
which will help information expectations for the Financial institution of Canada
rate of interest outlook.
Canadian authorities bond yields have been decrease throughout a flatter
curve. The 10-year touched its highest since January
final 12 months at 1.602% earlier than dipping to 1.543%, down 4.eight foundation
factors on the day.
(Reporting by Fergal Smith; Enhancing by Kirsten Donovan and
Marguerita Choy)
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Key phrases: CANADA FOREX/ (UPDATE 1)
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