CANADA FX DEBT-C$ adds to weekly decline as investors eye rising coronavirus cases - EntornoInteligente
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* Canadian dollar falls 0.2% against the greenback * Loonie is on track to fall 0.5% for the week * Price of U.S. oil declines 0.5% * Canadian bond yields trade mixed across a flatter curve TORONTO, June 26 (Reuters) – The Canadian dollar extended this week’s decline against its U.S. counterpart on Friday as concern about rising new coronavirus infections in the United States and China weighed on the price of oil, one of Canada’s major exports. U.S. crude prices were down 0.5% at $38.52 a barrel , while U.S. stock index futures also lost ground. On Thursday, the United States set a new record for a one-day increase in COVID-19 cases. The Canadian dollar was trading 0.2% lower at 1.3665 to the greenback, or 73.18 U.S. cents. The currency traded in a range of 1.3627 to 1.3668. On Thursday, the loonie hit a 10-day low at 1.3670. It is on track to fall 0.5% for the week. Its decline this week came as investors worried that Washington could reimpose tariffs on Canadian aluminum and after Canada lost one of its coveted triple-A ratings when Fitch downgraded it for the first time, citing the billions of dollars in emergency aid Ottawa has spent to help bridge the downturn caused by COVID-19 pandemic shutdowns. Canada’s emergency spending was needed to lay the groundwork for a recovery, Prime Minister Justin Trudeau said on Thursday in response to Fitch’s rating downgrade. Canadian government bond yields were mixed across a flatter curve, with the 10-year down 1.1 basis points at 0.519%. (Reporting by Fergal Smith; editing by Jonathan Oatis)
LINK ORIGINAL: Reuters

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