Canadian dollar climbs to three-month high ahead of BoC rate decision this week GlobeBusiness
This translation has been automatically generated and has not been verified for accuracy.The Canadian dollar strengthened to a near three-month high against the greenback on Monday as optimism on the reopening of economies supported risk appetite and ahead of an interest rate decision this week by the Bank of Canada.
The price of oil , one of Canada’s major exports, fell but held near its highest since March as investors weighed reports that OPEC and Russia were closer to a deal on extending oil cuts. U.S. crude prices were down 1.3 per cent at $35.03 a barrel.The Canadian dollar was trading 0.3 per cent higher at 1.3724 to the greenback, or 72.87 U.S. cents. The currency touched its strongest intraday level since March 10 at 1.3674.
A Bank of Canada interest rate decision is due on Wednesday, when Tiff Macklem will take over as governor. The central bank will hold interest rates at a record low of 0.25 per cent until at least the end of next year, a Reuters poll showed.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Premarket: World stocks near three-month peak, U.S. dollar sagsPremarket: World stocks near three-month peak, U.S. dollar sags GlobeInvestor
Read more »
Kane grateful for other pioneers ahead of Sports Hall of Fame induction - Sportsnet.ca“I’m proud to think that I did something to help move Canadian golf,” said Lorie Kane. “I just think I was doing what everybody else had shown me to do, and they may not have gotten the recognition that I’m getting.
Read more »
Five things to watch for in the Canadian business world in the coming weekThe Bank of Canada is scheduled to make its latest interest rate announcement on Wednesday. The central bank is widely expected to keep its key rate on hold at 0.25 per cent, however economists will be looking for any comments it has about its outlook for the economy.
Read more »
Dispatches from Yosemite: Alone with the bears and beautyThe glacier-carved valleys of Yosemite National Park have been closed to the public for nearly three months and a few dozen lucky kids have had it mostly to themselves.
Read more »
Morning Update: Protests against police brutality sweep U.S.The Globe and Mail's Canadian coverage. Get the latest national news featuring Canadian events, politics and perspectives.
Read more »
More Indian states cautiously reopen as cases continue to riseIndia on Monday climbed to the seventh spot in countries worst hit by the virus as its confirmed cases rose to more than 190,000, including 5,394 deaths
Read more »