AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,806 Increased By 37.8 (0.39%)
BR30 29,678 Increased By 278.1 (0.95%)
KSE100 92,304 Increased By 366.3 (0.4%)
KSE30 28,840 Increased By 96.6 (0.34%)
Markets

Canadian dollar gains as risk appetite shows signs of recovery

  • Canadian dollar strengthens 0.2% against the greenback
  • Canadian new home prices rise 0.6% in June from May
  • Price of US oil increases 1.7%
  • Canadian bond yields increase across a steeper curve
Published July 21, 2021

TORONTO: The Canadian dollar edged higher against its US counterpart on Wednesday, as investor sentiment globally showed signs of improving for a second day after deteriorating on worries that rising COVID-19 cases could impede economic recovery.

Stock markets and the price of oil, one of Canada's major exports, rose as investors bet an earlier flight to safety sparked by fears about the spread of the Delta coronavirus variant was overdone.

US crude futures rose 1.7% to $68.33 a barrel, while the Canadian dollar was trading 0.2% higher at 1.2658 to the greenback, or 79.00 US cents. On Monday, the currency slumped to its weakest level in five months at 1.2807.

Canadian new home prices rose 0.6% in June from May, the smallest increase in six months, data from Statistics Canada showed. The annual increase was 11.9%.

Canadian dollar dips as rising Covid-19 infections weigh on oil

The Canadian retail sales report for May is due on Friday, which could guide expectations for the Bank of Canada policy outlook.

Last week, the central bank took a mostly optimistic stance on the country's economy, saying the threat of the COVID-19 pandemic had largely passed, while warning inflation would remain hot in the near term.

Canadian dollar falls as investors weigh OPEC+ supply talks

Canadian government bond yields were higher across a steeper curve, tracking the move in US Treasuries. The 10-year was up 2.1 basis points at 1.200%, after touching on Monday its lowest intraday level in five months at 1.097%.

Comments

Comments are closed.