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Canadian dollar is 0.4% weaker than greenback
Luni trades in the range of 1.4169 to 1.4235
US oil price is 2.9% lower
Canadian bond yields beyond the curve
Toronto, 21 February (Reuters) – Canadian dollar weakened against its US counterpart on Friday as Greenback received a wide -based profit and the Canadian bank provided a clear indication. This will cut interest rates to support the economy in a business position.
Loni was trading 0.4% less from 1.4230 to 1.4230, or 70.27 after trading in the range of US Saint, 1.4169 to 1.4235. For the week, the currency was 0.3%below.
Bank of Canada Governor TIFF Mackelem said that 2% inflation target of Bank of Canada should be maintained in a review for 2026 as the central bank needs to focus on risks, such as to implement American tariffs For, Canada Governor TIFF McCalem said.
“The inflation effect of the tariff is not very large, supporting the monetary policy demand (of the economy) smoothly helping, so it is not much weaker than the supply,” McCalem said.
“Governor McCalem is finally saying the quiet part loudly,” said Royce Mendes, managing director and head of Macro Strategy at Desjardins.
“After being non-committed about the potential monetary policy response to the US tariff, it is now clear that the central bank will probably cut rates that it will otherwise be otherwise if a business war disappears.”
Investors see a 43% chance of McCalem’s speech above 33%, BOC 43% of the march rate cut.
The US dollar recently withdrawn some decline against a basket of major currencies, while one of the major exports of Canada settled at $ 2.9% less $ 70.40 per barrel.
Canadian retail sales increased by 2.5% from November to December as sales tax holiday was spent on food and beverages. An initial estimate showed sales 0.4% slipping in January.
Canadian bond yields beyond the curve. The 10-year was down 11.7 base points at 3.094%. (Reporting by Fergel Smith in Toronto; editing by Nia Williams)
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