Loonie at 74.86 U.S. cents
weakened to a three-week low against its U.S. counterpart on Thursday as Wall Street stocks fell and data showed Canada’s trade balance swinging to a surprise deficit.
“We had a dreadful trade number,” said Marc Chandler, chief market strategist at Bannockburn Global Forex LLC. “The market was looking for a surplus and it comes in as a deficit.” Wall Street’s main indexes fell sharply after U.S. data showing a strong labour market drove up bond yields and fanned fears that the Federal Reserve will be aggressive in raising interest rates.
“The kind of currencies that I would put in a bucket and say are levered to growth are under pressure,” Chandler said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alberta tornado was among the most powerful in Canadian history, reaching rare EF4 ratingSaturday’s tornado caused no fatalities and only one injury while it carved a 15.3-kilometre-long swath in a rural area between the towns of Didsbury and Carstairs
Read more »
Redblacks acquire rights to Canadian linebacker Francis from ElksEdmonton Elks ship Canadian linebacker Kevin Francis to Ottawa Redblacks for fourth-round pick
Read more »
Canada’s Hadwin credits more positive outlook for Rocket Mortgage Classic successCanadian Adam Hadwin credits positive outlook for recent success
Read more »
B.C. port workers strike will have ripple effects across the economyGroups representing Canadian businesses want the federal government to intervene in the strike
Read more »
B.C. port workers strike will have ripple effects across the economyAbout 7,400 members of the International Longshore and Warehouse Union Canada walked off the job on Saturday.
Read more »
Before the Bell: What every Canadian investor needs to know todayA look at Wednesday morning’s market action
Read more »