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2016-07-06 18:20:00

CANADIAN DOLLAR DOWN

CANADIAN DOLLAR DOWN

 

CAD/USD NOON RATE APR - JUN 2016

 

CANADA OIL PRODUCTION 2010 - 2017

 

According to REUTERS, the Canadian dollar weakened against a broadly stronger U.S. counterpart on Tuesday, with uncertainty about the resiliency of global economic growth in the face of a slower China and divided Europe weighing on the risk-sensitive loonie.

The Canadian dollar is expected to weaken further over the coming months as Britain's vote to leave the European Union boosts the U.S. dollar and with oil prices set to remain weak, a Reuters poll found.

"The U.S. is the king of the hill now, for the next little bit, where at least there's some certainty around the direction economically there," said Don Mikolich, executive director for foreign exchange sales at CIBC Capital Markets. 

The Canadian currency, nicknamed the loonie, has fallen 0.7 percent since Britain's decision on June 23 to exit the EU and is down 3 percent since May 3 when it hit an 11-month high of C$1.2458.

It settled at C$1.3016 to the greenback, or 76.83 U.S. cents on Tuesday, weaker than the Bank of Canada's official Monday close of C$1.2856, or 77.78 U.S. cents.

The retreat followed five sessions of gains that had lifted the currency to a 10-day high on Monday, when U.S. markets were closed. Canadian markets were closed on Friday. 

Overnight data from China showed that while the country's growing services sector saw activity rise to an 11-month high in June, a composite measure of activity including manufacturing fell to a four-month low. 

Canadian government bond prices were higher across the maturity curve, with the two-year price up 5 Canadian cents to yield 0.493 percent and the benchmark 10-year jumping 49 Canadian cents to yield 0.994 percent.  

The 10-year yield slumped as low as 0.961 percent during the session, its lowest since Feb. 11. 

The equivalent U.S. bond yield hit an all-time low, as soft data from China added to worries about so-called Brexit.

Prices for oil, a major Canadian export, fell on concerns that demand could be dented by slower economic growth.

Canada's central bank, widely expected to hold rates steady next week, said on Monday that domestic business sentiment remained subdued in the second quarter, weighed by cheaper oil and modest domestic demand.

Corporate U.S. dollar buyers should hedge payables due in that currency, while greenback sellers should wait to hedge receivables, analysts at Scotiabank said in a note.

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Earlier:

U.S. RIGS UP 10 

U.S. WANTS AMERICA 

CANADA'S OIL WILL UP 

TRANSCANADA WANTS $15 BLN 

CANADA'S HOPE PRICE: $2 BLN

 

 

Tags: CANADA, USA, OIL, PRICES

Chronicle:

CANADIAN DOLLAR DOWN
2017, December, 15, 12:50:00

LUKOIL'S PLAN: $50

LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.

CANADIAN DOLLAR DOWN
2017, December, 15, 12:45:00

BP INVESTS TO SOLAR

BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.

CANADIAN DOLLAR DOWN
2017, December, 13, 12:40:00

OIL PRICE: ABOVE $64 YET

REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.

CANADIAN DOLLAR DOWN
2017, December, 13, 12:35:00

RUSSIAN-TURKISH NUCLEAR

ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.

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