Canadian dollar hits 2-week high, boosted by 'non-hawkish' Fed



* Canadian dollar strengthens 0.7% against the greenback

* Loonie touches strongest level since July 14 at 1.2432

* Price of U.S. oil settles 1.7% higher

* Canadian 10-year yield rises 3.3 basis points

By Fergal Smith

TORONTO, July 29 (Reuters) - The Canadian dollar rose to a two-week high against its broadly weaker U.S. counterpart on Thursday, as the Federal Reserve remained patient about reducing stimulus and the Bank of Canada reassured Canadians it would keep inflation under control.

The loonie CAD= was trading 0.7% higher at 1.2438 to the greenback, or 80.40 U.S. cents. It touched its strongest intraday level since July 14 at 1.2432.

The U.S. dollar .DXY has fallen sharply over the last 24 hours "in the wake of a non-hawkish Fed and moves by China to shore up market confidence," said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets in New York. "Commodity currencies have fared particularly well."

On Wednesday, the U.S. central bank said the job market still had "some ground to cover" before it would be time to ease monetary stimulus.

Among Group of Ten currencies, only the Norwegian crown NOK= and the New Zealand dollar NZD= gained more ground than the loonie. Norway, like Canada, is a major producer of oil, which settled 1.7% higher at $73.62 a barrel.

Canada's foreign exchange fundamentals, including economic growth and the coronavirus vaccination rate "are at the top of the G10 pack and CAD performance should reflect that," Anderson said. "Even after today's gains, I still think CAD should rally further over the next few weeks."

In a column published by the Financial Post newspaper, Bank of Canada Governor Tiff Macklem said Canadians can be confident that the cost of living will not rise out of control as the economy reopens from the pandemic.

Data on Wednesday showed that Canadian inflation slowed from a decade-high, but more price increases could be coming as businesses reopen and consumers dip into record savings.

Canadian government bond yields rose across a steeper curve, with the 10-year CA10YT=RR up 3.3 basis points at 1.203%.
Reporting by Fergal Smith; Editing by Susan Fenton and Paul Simao

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示: 您的資金存在風險。杠杆商品可能不適合所有客戶。 請詳細閱讀我們的風險聲明