Arab Today, arab today loonie slips past 7 week low
Last Updated : GMT 13:29:47
Arab Today, arab today
Arab Today, arab today

Loonie slips past 7 week low

Arab Today, arab today

Arab Today, arab today Loonie slips past 7 week low

Toronto - Arabstoday

Canada\'s dollar on Friday sank to its weakest against the US dollar in more than seven weeks on growing anxiety that the euro debt crisis could lead to a break-up of the currency bloc. Investors were rattled by word that Italy paid a record 6.5 per cent to borrow money over six months and that its longer-term funding costs soared. Standard and Poor\'s downgrade of Belgium\'s credit rating to AA from AA-plus added to a growing list of danger signals. The news pushed Can-adian stocks lower for a third straight session on Friday, while global equity markets retreated on fear that policymakers have no clear path of resolving Europe\'s debt crisis. Article continues below \"The Belgium downgrade was the key headline that drew market attention,\" said Greg Moore, foreign exchange strategist at TD Securities. Latest symptom \"It added to the overall sovereign credit and bank funding stresses that have been building over the past week. That\'s just the latest symptom of the overall issues.\" The Canadian dollar, referred to as the loonine due to the picture of the bird on its back, ended at C$1.0494 to the US dollar, or 95.29 US cents, after earlier hitting a low of C$1.0524 to the US dollar, or 95.02 US cents, its weakest level since October 5. On Thursday, the currency ended at C$1.0469 to the greenback, or 95.52 US cents. David Watt, senior currency strategist at RBC Capital Markets, said trading was thin for the second day on \"Black Friday\", the traditional beginning to the US holiday shopping season, following a US market holiday on Thursday for Thanksgiving. \"What we\'ve been watching is a near unrelenting stream of increasingly negative news,\" said Watt. \"Whether it\'s been on the global economy, the global outlook, what\'s going on in the Eurozone. That is basically getting markets very nervous — increasingly nervous.\" After breaking through C$1.0500, the next significant support level for the Canadian dollar is seen at the year-low of C$1.0658 against the greenback, notched in October. On the flip side, the Canadian currency could strengthen to C$1.0361 against its US counterpart, Watt said. ‘Risk tone\' Canadian government bond prices eased across the curve, following the trend in the US that saw Treasuries slip on profit-taking after recent gains. \"While FX markets had a clear risk tone, we\'re not really seeing that passed through to other markets,\" said Watt. \"Given where yields have been we\'re getting a little bit of a relief in that regard.\" Canada\'s two-year bond eased 8 Canadian cents to yield 0.950 per cent, while the ten-year bond was down 53 Canadian cents to yield 2.109 per cent.  

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 slips past 7 week low Arab Today, arab today loonie slips past 7 week low

 



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 slips past 7 week low Arab Today, arab today loonie slips past 7 week low

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
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