AGL 36.51 Decreased By ▼ -1.49 (-3.92%)
AIRLINK 216.01 Increased By ▲ 2.10 (0.98%)
BOP 9.46 Increased By ▲ 0.04 (0.42%)
CNERGY 6.59 Increased By ▲ 0.30 (4.77%)
DCL 8.50 Decreased By ▼ -0.27 (-3.08%)
DFML 40.90 Decreased By ▼ -1.31 (-3.1%)
DGKC 99.48 Increased By ▲ 5.36 (5.69%)
FCCL 36.48 Increased By ▲ 1.29 (3.67%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 17.17 Increased By ▲ 0.78 (4.76%)
HUBC 126.25 Decreased By ▼ -0.65 (-0.51%)
HUMNL 13.35 Decreased By ▼ -0.02 (-0.15%)
KEL 5.24 Decreased By ▼ -0.07 (-1.32%)
KOSM 6.71 Decreased By ▼ -0.23 (-3.31%)
MLCF 44.24 Increased By ▲ 1.26 (2.93%)
NBP 60.50 Increased By ▲ 1.65 (2.8%)
OGDC 222.49 Increased By ▲ 3.07 (1.4%)
PAEL 40.60 Increased By ▲ 1.44 (3.68%)
PIBTL 8.16 Decreased By ▼ -0.02 (-0.24%)
PPL 191.99 Increased By ▲ 0.33 (0.17%)
PRL 38.60 Increased By ▲ 0.68 (1.79%)
PTC 27.00 Increased By ▲ 0.66 (2.51%)
SEARL 103.50 Decreased By ▼ -0.50 (-0.48%)
TELE 8.62 Increased By ▲ 0.23 (2.74%)
TOMCL 34.86 Increased By ▲ 0.11 (0.32%)
TPLP 13.60 Increased By ▲ 0.72 (5.59%)
TREET 24.99 Decreased By ▼ -0.35 (-1.38%)
TRG 71.99 Increased By ▲ 1.54 (2.19%)
UNITY 33.33 Decreased By ▼ -0.06 (-0.18%)
WTL 1.72 No Change ▼ 0.00 (0%)
BR100 11,987 Increased By 93.1 (0.78%)
BR30 37,178 Increased By 323.2 (0.88%)
KSE100 111,351 Increased By 927.9 (0.84%)
KSE30 35,039 Increased By 261 (0.75%)

The Canadian dollar fell to a 19-month low against its broadly stronger US counterpart on Friday, as declines for stocks and the price of oil offset data showing stronger-than-expected growth in the domestic economy. At 4:00 p.m. (2100 GMT), the Canadian dollar was trading 0.7 percent lower at 1.3598 to the greenback, or 73.54 US cents. The currency touched its weakest level since May 2017 at 1.3601.
For the week, the loonie was down 1.6 percent, its biggest drop since June. "We are seeing an extremely orderly move but a weakening Canadian dollar, as would be expected with lower oil prices and deteriorating risk appetite," said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets in New York.
Speculators have cut their bearish bets on the Canadian dollar for the second straight week, data from the US Commodity Futures Trading Commission and Reuters calculations showed. As of Dec. 18, net short positions had fallen to 7,457 contracts from 11,669 a week earlier. Canada's economy expanded at a faster-than-expected 0.3 percent pace in October, but evidence of economic momentum heading into the end of the year may not be enough to shift the Bank of Canada from the sidelines due to the recent slump in oil prices.
Canadian companies expect sales growth to stabilize over the next year, and say labor pressures and various tariffs mean input and output prices will start to rise more quickly, a Bank of Canada survey said.

Copyright Reuters, 2018

Comments

Comments are closed.