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- Euro zeros in on 2012 low as Greek exit fears grip markets
- Yen to stay pressured ahead of BOJ; Aussie tad lower
- Euro up on China easing, Greece prospect; yen 6-mth low
- Euro hits 3-week low vs dlr on bailout delay worries
- Qatar c.bank satisfied with property credit growth
- Japan Azumi: to act firmly on FX volatility, speculation
- Portugal, Greek concerns weigh on world stocks
- Yen at 1-mo lows as Japan posts rare trade deficit
- Shares gain as Europe funding worries recede
- Euro Falls on Concern S&P Downgrade Will Hurt French Debt Sale Today
- Indian rupee seen under pressure on euro zone woes -finmin
- Asian shares rise; Oil spikes on Iran tension
- Euro struggles after ECB tender; more pressure eyed
- Asian shares, euro gain after upbeat U.S. data
- Swiss franc falls sharply after CPI data
- Euro consolidates gains; yen edges lower
- Dollar near 6-wk high as sovereign debt crisis dominates
- Dollar falls to 2-1/2 week low versus yen
- Stocks, euro rise on hopes of progress in Europe
- China Oct inflation drops, more policy tweaks seen
- Euro consolidates after rally; can rise further
- Asia shares steady but capped before EU summit
- Risk aversion sends assets down broadly pre-EU Summit
- Euro sags as Germany undercuts hope on crisis plan
- Euro rally takes a breather, more short-covering eyed
- Behind closed doors, China leaders to ponder big choices
- Euro Reaches Decade Low Versus Yen on Signs Debt Crisis Weighing on Growth
- Euro falls, stung by doubts about EFSF powers
- REFILE-FOREX-Euro bounce pauses, plenty of risk ahead
- Dollar Holds Two-Day Drop Against Euro as Asian Shares Advance
- Italy downgraded, IMF says Europe behind the curve
- Euro falls after EU finance ministers break no new ground on crisis
- Euro steady on move by central banks, EU meet eyed
- Euro relieved for now, more headwind ahead
- Euro firm after short-covering rally, downtrend intact
- Euro extends losses, hits 10-yr trough on yen
- Euro struggles, dollar bulls unimpressed by Obama
- Euro seen facing headwind ahead of ECB
- Euro falls to 6-mth low vs yen as debt fear mounts
- Euro, Aussie dollar struggle as risk aversion mounts
- Franc, Yen Advance as Economists Predict U.S. Job Growth Slowed Last Month
- Aussie in positive territory after local data
- FOREX NEWS :: Dollar steady after short- covering rally
- Japan boosts FX monitoring, creates $100 bln credit line
- Pound reverses fall vs euro but euro zone, UK concerns weigh
- Dollar Rallies as Fed Statement Fails to Calm Concern Over Slowing Growth
- FOREX-Swiss franc hits record vs euro as market confidence dives
- G7 seeks to calm markets rocked by debt crises
- Swiss franc elevated on economy fear, yen on BOJ watch
- Yen dives as Japan follows Swiss in currency war
- US Congress deadlocked over debt as default looms
- US debt standoff makes investors sell stocks, buy gold
- Japan's Noda repeats warning on yen rise
- FX Concepts’ Taylor Sees One More ‘Risk Rally’ Before Recession Takes Hold
- Bank of Korea confident U.S. will avoid debt catastrophe
- FOREX-Euro, dollar strike new lows on Swiss franc
- FOREX-Dollar steadies as impact from S&P warning short-lived
- Yen Declines on Speculation Japan Will Intervene; Aussie, Kiwi Strengthen
- FOREX-Euro sinks to record low vs Swiss franc as debt concerns spread
- CME to launch new Yuan FX futures contracts
- With Gold Set To Peak At $1,700, Miners Like Goldcorp Look Cheap
- FOREX-Euro vulnerable; ECB hike factored in
- Canada’s Dollar Weakens After Traders Consider Recent Advance Overdone
- Thaksin sister prepares to lead Thailand after stunning win
- Euro Climbs to Two-Week High Versus Dollar on Rate Prospects; Won Advances
- Optimism before Greek vote lifts Asian stocks
- Euro Falls Versus Dollar, Yen Before EU Ministers Meet on Greece Financing
- Euro gains after Greek vote, Nikkei futures drop
- CANADA FX DEBT-C$ hit for second day by US and Greek worry
- Euro Declines to Three-Week Low on Concern Europe Debt Crisis Is Worsening
- China’s Equity Markets
- FOREX-Euro and Aussie edge up, China CPI not as bad as feared
- EMERGING MARKETS-Latam FX slumps; Mexico peso at 2-month low
- Euro Falls, Heads for Weekly Drop, on Speculation Rate Increases Will Slow
- FOREX-Euro pins hopes on ECB; kiwi bolstered by RBNZ
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Canada’s Dollar Weakens After Traders Consider Recent Advance Overdone
Dated Posted: 2011-07-05
Canada’s dollar weakened against its U.S. counterpart and a majority of its most-traded peers as traders speculated a recent advance was overdone.
The currency, also known as the loonie, has strengthened more than 3 percent since touching a three-month low on June 27. A July 8 government report will show Canadian employers added jobs for a third straight month in July, economists predict.
“The Canadian dollar is overbought,” said Blake Jespersen, director of foreign exchange in Toronto at Bank of Montreal’s BMO Capital Markets unit. “It blew through major moving averages. There’s some very modest profit taking.”
The Canadian currency slipped 0.3 percent to 96.12 cents per U.S. dollar at 4:25 p.m. in Toronto, from 95.85 on July 1. It touched 99.13 cents on June 27, the loonie’s weakest level since March 17. One Canadian dollar buys $1.0404.
Canada’s dollar was the second-worst performer today among 16 major currencies tracked by Bloomberg, trailing only the Australian dollar.
Traders trimmed holdings of riskier assets after Standard & Poor’s said a debt-rollover plan for Greece may prompt a “selective default” rating for the country.
Given the loonie is “risk-correlated, the S&P comments are not helping,” said Jeremy Stretch, head of currency strategy at Canadian Imperial Bank of Commerce in London. “Solid domestic data is not due until later this week.”
Canada’s economy added 15,000 jobs in June, according to the median forecast of 23 economists surveyed by Bloomberg. Statistics Canada is due to report the data on July 8 at 7 a.m. in Ottawa.
Canada’s government bonds have returned 1.9 percent this year, according to a Bank of America Merrill Lynch index.
The 10-year note’s yield fell 4 basis points, or 0.04 percentage points, to 3.08 percent as the price of the 3.25 percent security maturing in June 2021 rose 35 cents to C$101.43.
Source: Bloomberg
