* Canadian dollar rises 0.1% against the greenback
* Price of U.S. oil falls 2.9%
* Canadian building permits rise 1.7% in August
* Canadian bond yields rise across a steeper curve
TORONTO, Oct 1 (Reuters) – The Canadian dollar strengthened
against its U.S. counterpart on Thursday as investors grew more
optimistic about additional U.S. stimulus, but the currency gave
up some of its gains as oil fell.
U.S. stock index futures rose after the Trump administration
said it had proposed a new coronavirus fiscal aid package to
House of Representatives Democrats worth more than $1.5
Canada sends about 75% of its exports to the United States,
including oil. U.S. crude prices were down 2.9% at $39.05
a barrel as a rising number of coronavirus cases dampened the
The loonie was trading 0.1% higher at 1.3304 to the
greenback, or 75.17 U.S. cents, having touched its strongest
intraday level since Sept. 21 at 1.3279. Last month, the loonie
fell 2.1%, ending a five-month streak of gains.
The value of Canadian building permits rose by 1.7% in
August from July, Statistics Canada said. Still, permits were
down 11.2% compared with the same month in 2019.
Canada’s export development agency predicted global growth
of 6.6% in 2021 after a 4.3% decline this year amid the
coronavirus pandemic, but said the domestic energy and tourism
sectors would suffer.
Canadian government bond yields were higher across a steeper
curve in sympathy with U.S. Treasuries. The 10-year
was up 3.4 basis points at 0.600%, trading near its highest in
(Reporting by Fergal Smith; editing by Jonathan Oatis)
(([email protected]; +1 416 941 8113;))
Keywords: CANADA FOREX/
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