Arab Today, arab today loonie rises to strongest
Last Updated : GMT 02:29:11
Arab Today, arab today
Arab Today, arab today

Loonie rises to strongest

Arab Today, arab today

Arab Today, arab today Loonie rises to strongest

Toronto - Arabstoday

Canada\'s dollar rose, touching the strongest level against the greenback in more than three years, as investors took Bank of Canada statements to mean the central bank may become more aggressive with interest-rate increases. Gains by the currency, nicknamed the loonie, were tempered after a government report on Friday showed inflation didn\'t increase as much as forecast, quelling speculation the central bank would raise interest rates as soon as September. The currency fell last week against 13 of its 16 most traded counterparts before a report next week forecast to show the nation\'s economy grew at a faster pace in May than April. \"It provided a bit of a counterpoint to what we had earlier in the week in terms of the hawkishness,\" said Shaun Osborne, chief currency strategist in Toronto at TD Securities, a unit of Canada\'s second largest bank, referring to the inflation report. \"It does suggest there\'s no rush to tighten. There\'s a chance that we see the Canadian dollar soften up a little.\" The Canadian currency strengthened 0.6 per cent to 94.80 cents (Dh3.4) against the greenback, from 95.32 cents on July 15, its second weekly gain. It touched 94.23 cents on July 21, the strongest since November 9, 2007. One Canadian dollar purchases $1.0549. The loonie depreciated 0.9 per cent to C$1.3613 against the euro, and fell 0.2 per cent to 82.85 yen, from levels last week. Consumer prices advanced 3.1 per cent in June from a year earlier after a 3.7 per cent gain in the previous month, Statistics Canada said on Friday in Ottawa. The median forecast of 24 economists in a Bloomberg News survey was for a 3.6 per cent rate of increase. \"That\'s got to be one of the worst misses on CPI that I\'ve seen,\" said David Love, a trader of interest-rate derivatives at the brokerage Le Groupe Jitney in Montreal, said via email, referring to the consumer price index. Yields on the six-month overnight index swap, a security based on what investors expect the central bank\'s rate will average during that period, dropped 2.8 basis points to 1.11 per cent after the CPI number, after climbing 7.9 per cent during the three days since Bank of Canada policy makers said on July 19 that monetary stimulus, \"will be withdrawn.\" The statement omitted the word ‘eventually\' that had been contained in previous releases. From / Gulf News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today loonie rises to strongest Arab Today, arab today loonie rises to strongest

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today loonie rises to strongest Arab Today, arab today loonie rises to strongest

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday