Scott Barlow: Loonie set for a beating if this economist is right<\/a><\/p>\nThe Nasdaq \u200band the S&P 500 fell to over one-week lows, dragged down by sharp losses in semiconductor stocks as investors braced for a more hawkish Federal Reserve and scrutinized growing debt-funded AI spending.<\/p>\n
The safe-haven U.S. dollar rose against a basket \u2060of major currencies, while the price of oil, one of Canada\u2019s major exports, was trading 0.7% lower at $73.71 a barrel.<\/p>\n
Investors kept a close watch on crude flows through the Strait of Hormuz following signs of progress in U.S.-Iran peace talks.<\/p>\n
Bank of Canada Governor \u2060Tiff Macklem said the latest inflation reading showed \u200bprice increases were concentrated in energy, but admitted that food inflation was \u2060a concern.<\/p>\n
\u201cComments today by BoC Macklem provide little to lean towards CAD strength but do \u200csignal some relief on rising inflation concerns,\u201d Sahota said.<\/p>\n
Data on Monday showed \u200bthat Canada\u2019s annual inflation rate rose more than expected to 3.2% in May but measures of underlying inflation closely followed by the BoC were more subdued.<\/p>\n
Canadian government bond yields moved lower \u200bacross the curve, with the 10-year down 2.7 basis points at 3.442%.<\/p>\n","protected":false},"excerpt":{"rendered":"The Canadian dollar weakened to a 14-month low against its U.S. \u2060counterpart \u200bon Tuesday as oil prices fell…\n","protected":false},"author":2,"featured_media":757322,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"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-757321","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","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\/757321","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=757321"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/757321\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/757322"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=757321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=757321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=757321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}