March 24, 2020 / 3:43 PM / in 12 days

CANADA FX DEBT-Loonie edges higher as stimulus hopes temper risk aversion

    * Canadian dollar rises 0.1% against the greenback
    * Price of U.S. oil increases 0.5%
    * Loonie trades in a range of 1.4375 to 1.4532
    * Canadian bond yields rise across the curve

    TORONTO, March 24 (Reuters) - The Canadian dollar
strengthened against its U.S. counterpart on Tuesday as the
prospect of stimulus efforts to ease the economic pain of the
coronavirus pandemic tempered risk aversion.    
    All three main U.S. stock indexes jumped more than 5%, with
hopes running high that the U.S. Senate will pass a $2 trillion
stimulus bill, aimed at providing financial aid to Americans out
of work and helping distressed industries.             
    A handful of Canadian legislators convenes on Tuesday to
give the government the power to inject billions of dollars in
emergency cash to help individuals and businesses through the
economic crunch caused by the virus outbreak.             
    At 11:03 a.m. EDT (1503 GMT), the Canadian dollar         
was trading 0.1% higher at 1.4482 to the greenback, or 69.05
U.S. cents. The currency, which last Thursday hit a four-year
low at 1.4669, traded in a range of 1.4375 to 1.4532.    
    U.S. crude        prices were up 0.5% at $23.48 a barrel.
Oil, which is one of Canada's major exports, has been pressured
in recent weeks by the demand destruction caused by the
coronavirus pandemic and a price war between producers Russia
and Saudi Arabia.
    Canadian government bond yields rose across the curve, with
the 10-year             up 3.2 basis points at 0.850%.

 (Reporting by Fergal Smith; Editing by Jonathan Oatis)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below