Advertisement
Canada markets close in 5 hours 32 minutes
  • S&P/TSX

    22,409.63
    +150.47 (+0.68%)
     
  • S&P 500

    5,195.28
    +7.61 (+0.15%)
     
  • DOW

    39,213.98
    +157.59 (+0.40%)
     
  • CAD/USD

    0.7305
    +0.0017 (+0.24%)
     
  • CRUDE OIL

    79.42
    +0.43 (+0.54%)
     
  • Bitcoin CAD

    83,793.66
    -1,828.88 (-2.14%)
     
  • CMC Crypto 200

    1,323.94
    +23.84 (+1.84%)
     
  • GOLD FUTURES

    2,340.70
    +18.40 (+0.79%)
     
  • RUSSELL 2000

    2,060.04
    +4.91 (+0.24%)
     
  • 10-Yr Bond

    4.4980
    +0.0060 (+0.13%)
     
  • NASDAQ

    16,286.75
    -16.01 (-0.10%)
     
  • VOLATILITY

    13.16
    +0.16 (+1.23%)
     
  • FTSE

    8,388.00
    +33.95 (+0.41%)
     
  • NIKKEI 225

    38,073.98
    -128.39 (-0.34%)
     
  • CAD/EUR

    0.6778
    +0.0002 (+0.03%)
     

CANADA FX DEBT-Canadian dollar clings to weekly gain as China injects liquidity

* Canadian dollar rises 0.1% against the greenback * Loonie trades in a range of 1.2637 to 1.2690 * Price of U.S. oil falls 1.2%; copper gains 1.5% * Canadian 10-year yield touched its highest since Aug. 11 TORONTO, Sept 17 (Reuters) - The Canadian dollar edged higher against its U.S. counterpart on Friday as the central bank of top commodity consumer China moved to calm markets, while Canada's 10-year yield climbed to a five-week high. Copper prices rose after the People's Bank of China infused liquidity to ease nerves caused by property giant China Evergrande Group's debt woes. Canada is a major exporter of commodities, including copper and oil. Copper rallied 1.5%, while oil gave back some of this week's gains, falling 1.2% to $71.74 a barrel. The Canadian dollar was trading 0.1% higher at 1.2670 to the greenback, or 78.93 U.S. cents, after trading in a range of 1.2637 to 1.2690. For the week, the loonie was on track to advance 0.1%. Investors are awaiting a Federal Reserve interest rate decision next week and a Canadian federal election. Foreign investors are growing more worried that Canada's election on Monday could result in a deadlock that hampers Ottawa's response to the COVID-19 pandemic and further slows the economic recovery from the crisis. On Thursday, Fitch Ratings cut its 2021 growth forecast for the Canadian economy to 5% from 6.6%. Fitch last year stripped Canada of one of its coveted triple-A credit ratings, but S&P Global Ratings and Moody's Investors Service still give Canadian debt the highest rating. Canadian government bond yields were higher across a steeper curve, tracking the move in U.S. Treasuries. The 10-year touched its highest level since Aug. 11 at 1.289% before dipping slightly to 1.282%, up 4.6 basis points on the day. (Reporting by Fergal Smith. Editing by Jane Merriman)