Market News
TORONTO, Oct 20 - The Canadian dollar rose against its U.S. counterpart on Friday but the move was modest as stock markets fell and domestic data showed a decline in retail sales, cementing expectations that the Bank of Canada will remain on hold next week.
On Thursday, it touched its weakest intraday level in nearly two weeks at 1.3740. For the week, it was down 0.3%. "The market was dabbling with the idea of another Bank of Canada rate hike but that is looking increasingly remote," said Adam Button, chief currency analyst at ForexLive."Rising global yields will complicate the Bank of Canada's job in a big way."
The U.S. 10-year yield, a global benchmark, climbed on Thursday to a 16-year high near 5%. Canada could be particularly sensitive to higher borrowing costs after households borrowed heavily during the pandemic to participate in a red-hot housing market.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Dow loses nearly 300 points after bond market pummeling: Stock market news todayInvestors looking to earnings to lift the downbeat mood have yet to find relief, despite strong financial reports.
Lire la suite »
Stocks tumble amid bond market pummeling: Stock market news todayInvestors looking to earnings to lift the downbeat mood have yet to find relief, despite strong financial reports.
Lire la suite »
US futures reach for gains amid surging Treasury yields: Stock market news todayInvestors were treading carefully as the US 10-year yield nudged 5%, with more earnings and a speech by the Fed's Jerome Powell in focus.
Lire la suite »
Stocks slide as week of battering by yields nears end: Stock market news todayInvestors looking to earnings to lift the downbeat mood have yet to find relief, despite strong financial reports.
Lire la suite »
US futures fall as week of battering by yields nears end: Stock market news todayInvestors looking to earnings to lift the downbeat mood have yet to find relief, despite strong financial reports.
Lire la suite »
US futures fall, while benchmark yields pull back from 5%: Stock market news todayInvestors looking to earnings to lift the downbeat mood have yet to find relief, despite strong financial reports.
Lire la suite »