AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)
Markets

Canadian dollar pares gains as price pressures ease in June

  • Canadian dollar strengthens 0.2% against greenback
  • Canada's annual inflation rate in June dips to 3.1%
  • Price of US oil rises 0.5%
  • Canadian bond yields rise across the curve
Published July 28, 2021

TORONTO: The Canadian dollar strengthened against its US counterpart on Wednesday as stock markets calmed globally, but gains were capped by data showing national inflation rose less than expected in June.

Global equities regained some poise as a storm in Chinese stocks showed signs of easing and investors awaited a Federal Reserve interest rate decision.

Canada's annual inflation rate in June dipped to 3.1% from 3.6% in May, held back by price increases in June last year, data from Statistics Canada showed.

Still, the Bank of Canada's pledge to let the economy run hot could be tested, with more price increases expected as businesses shuttered during the COVID-19 pandemic reopen and consumers dip into record savings.

Canada's annual inflation rate slows but remains above Bank of Canada target

The Canadian dollar was trading 0.2% higher at 1.2580 to the greenback, or 79.49 US cents, after trading in a range of 1.2560 to 1.2604.

The price of oil, one of Canada's major exports, rose ahead of an industry report expected to show US crude inventories fell more than expected, bringing the focus back to a tight supply and demand balance rather than rising coronavirus infections.

Canadian dollar adds to last week's gains as greenback slides

US crude prices were up 0.5% at $72.04 a barrel.

Canadian government bond yields were higher across the curve, tracking the move in US Treasuries. The 10-year rose 2.2 basis points to 1.192%.

Comments

Comments are closed.