The Canadian \u200ddollar strengthened against \u200bits U.S. counterpart on Monday as oil prices rose and investors turned their attention to monthly GDP data.<\/p>\n
The loonie was trading 0.4% higher at 1.3740 per U.S. dollar, or 72.78 U.S. cents, after \u2060moving in a range of 1.3737 to 1.3804. Last Tuesday, the currency touched a near three-month high at 1.3728.<\/p>\n
\u201cThe focus for data-watchers now shifts to Tuesday\u2019s release of October GDP,\u201d analysts at Monex \u200cEurope said in \u200da note. \u201cHowever, we suspect that events in the \u200dGulf of Mexico are likely to be \u200cmore consequential for the loonie, with escalating tensions \u2060between the U.S. and Venezuela helping to push oil prices higher.\u201d<\/p>\n
The \u200bprice of oil, one of Canada\u2019s major exports, rose 2.3% to $57.82 a barrel after the U.S. Coast Guard began pursuing an oil tanker in international waters near Venezuela a day earlier, and Ukraine \u200bdamaged two vessels and piers in Russia, raising the risk of oil supply disruptions.<\/p>\n
The U.S. dollar fell against a basket of major currencies as Japanese officials signaled possible intervention in the yen.<\/p>\n
Analysts expect Canadian GDP to decline 0.2% in October, adding to recent \u2060evidence of a sluggish economy in the face of trade \u2060uncertainty.<\/p>\n
Canadian Prime Minister Mark Carney said former BlackRock executive Mark Wiseman would be \u200cthe new ambassador to the United States, where he will focus on President Donald Trump\u2019s tariffs.<\/p>\n
Canadian bond yields were mixed across a steeper curve. The 10-year was up 1.3 basis points at 3.482%, trading near the \u200ctop of its range in recent months. <\/p>\n","protected":false},"excerpt":{"rendered":"The Canadian \u200ddollar strengthened against \u200bits U.S. counterpart on Monday as oil prices rose and investors turned their…\n","protected":false},"author":2,"featured_media":362605,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[901,888,902,879,877,903,45,49,48,876,895,896,891,878,875,46,549,295,894,887,914,880,881,893,889,890,884,904,885,909,910,912,907,911,905,908,882,898,899,714,897,906,865,61,900,892,886,883,913],"class_list":["post-362604","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-alberta","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-business","tag-ca","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-travel","tag-trudeau","tag-us-news","tag-world-news","tag-yukon"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/362604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=362604"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/362604\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/362605"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=362604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=362604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=362604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}