AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

The Canadian dollar edged lower against its US counterpart on Friday, but was on track to gain for the second straight week as data showing a pickup in underlying inflation boosted bets for a Bank of Canada interest rate hike next month. Canada's annual inflation rate dipped to 2.8 percent in August from 3.0 percent in July, the seventh consecutive month it has exceeded the Bank of Canada's 2.0 percent target, Statistics Canada data indicated. All of the central bank's core inflation measures were 2.0 percent or higher, for the first time since February 2012.
"I thought the inflation data was pretty robust," said Amo Sahota, director at Klarity FX in San Francisco. "This keeps the market on track for looking at some more Canadian rate hikes."
The Bank of Canada has raised interest rates four times since July 2017. Chances of another hike in October rose to nearly 90 percent from 85 percent before the data, the overnight index swaps market indicated.
Separate data showed that Canadian retail trade rose 0.3 percent in July from June.
At 3:31 p.m. (1931 GMT), the Canadian dollar was trading 0.1 percent lower at C$1.2916 to the greenback, or 77.42 US cents.
The currency, which touched its strongest in more than three months on Thursday at 1.2885, traded in a range of 1.2886 to 1.2943.
For the week, the loonie is on track to rise 0.9 percent, building on a 1 percent gain last week. The currency has been boosted by a pick up in risk appetite and optimism that a deal would be reached to renew the North American Free Trade Agreement.
Still, the United States is getting "very, very close" to having to move forward on its trade deal with Mexico without Canada, White House economic adviser Kevin Hassett said.
Canada sends 75 percent of its exports to the United States, so its economy could be hurt if a deal is not reached.
The US dollar rose against a basket of currencies as fears that Britain would leave the European Union without a trade deal pressured sterling.
The price of oil, one of Canada's major exports, climbed ahead of a meeting of OPEC and other large crude exporters. US crude oil futures settled 0.7 percent higher at $70.78 a barrel.
Canadian government bond prices were lower across the yield curve, with the 10-year falling 8 Canadian cents to yield 2.431 percent.

Copyright Reuters, 2018

Comments

Comments are closed.