Canadian dollar is losing to all currencies
2022.12.01 11:39
Canadian dollar is losing to all currencies
By Kristina Sobol
Budrigannews.com – Due to the fact that investors lowered their bets on the Bank of Canada’s interest rate cut and external data show that the pace of manufacturing activity has slowed for four months in a row, the US dollar fell on Thursday against weaker counterparts in the US. The euro fell by 0.3 to 1.3445 per dollar or 74.38 per penny.
When Fed Chairman Jerome Paul said in December that rate hikes could slow down in the US, he lost some of his sharp dynamics compared to last day. However, it was the only G10 currency, losing ground to the dollar.
The dollar has declined in comparison with the basket of major currencies. The Bank of Canada also raised rates. According to the money market, the probability of an increase by 50 basis points and not by 25 basis points with a political decision on Wednesday decreased by about 10 from 30 points.
According to a Reuters poll, a significant part of economists expect a larger step, but they expect the Bank of England to stop the expansion campaign after that. Global With NES: Due to seasonal fluctuations, the Purchasing managers’ index in Canada PMI increased from 48.8 to 49.6 in October. A value less than 50 indicates a segment collapse. The business activity index has been declining at this level every month since August.
The Canadian employment report for November, published on Friday, may provide additional information about the capacity of the national economic system. Oil fell 2.9% to $82.91 per barrel after China announced the easing of COVID restrictions, as well as a possible reduction in supplies from OPEC.
Depending on the movement of Canadian government bonds, the yield of government bonds of Canadian origin was lower on the whole scale. 10-year bonds declined by 5.9 basis points on the day to 2.876 – the lowest level last year.
