The Canadian dollar strengthened to nearly \u200ba three-week high against \u200cits U.S. counterpart on Tuesday as investors focused on higher oil prices rather than an escalating trade war between the \u2060U.S. and \u200bCanada.<\/p>\n
The loonie was trading 0.2 per cent higher at 1.3790 per U.S. dollar, or 72.52 U.S. cents, after touching its strongest intraday level since August 21 at 1.3760.<\/p>\n
\u200bCanada\u2019s retaliatory tariffs on U.S. \u200cgoods took effect after midnight, intensifying an 18-month-old trade war and spurring Prime Minister Mark Carney to urge a further shift away from the country\u2019s biggest trading partner.<\/p>\n
On Monday, \u200cU.S. President \u200bDonald Trump said \u200cCanadian private jet maker Bombardier would no longer be allowed \u200bto sell its planes in the \u2060U.S. unless it started manufacturing in the country.<\/p>\n
\u201cMarkets \u2060are increasingly tuning out tariffs and threats,\u201d said Adam Button, \u200bchief currency analyst at investingLive. \u201cFor all the angst, the economic impacts are still limited and the Canadian dollar is trading off oil.\u201d<\/p>\n
Data on Friday showed Canada\u2019s economy lost 41,700 jobs in August. \u2060The unemployment rate, however, held steady at 6.4 per cent.<\/p>\n
Last week, the Bank of Canada said it does not expect new U.S. tariffs to have a large direct impact on the economy, adding that the ongoing \u2060Middle East conflict had raised \u200bupside risks to the inflation outlook.<\/p>\n
U.S. crude oil futures \u2060touched a three-month high at $94.73 a barrel on Tuesday after Iran-backed Houthis \u200cin Yemen attacked Saudi energy facilities. Oil is one of Canada\u2019s \u200bmajor exports.<\/p>\n
Canadian bond yields moved higher across the curve. The 10-year was up 2.3 basis points at 3.802 per cent but held below a two-year high \u200bit touched during Friday\u2019s session at 3.834 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"The Canadian dollar strengthened to nearly \u200ba three-week high against \u200cits U.S. counterpart on Tuesday as investors focused…\n","protected":false},"author":2,"featured_media":200732,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[164,224,238,214,212,239,17,211,230,231,227,213,210,235,171,234,143,222,249,215,216,229,225,226,219,240,220,244,245,247,242,246,94,243,217,142,233,113,232,241,223,236,237,228,221,218,248],"class_list":["post-200731","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-alberta","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-travel","tag-trudeau","tag-us-news","tag-world-news","tag-yukon"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/200731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=200731"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/200731\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/200732"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=200731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=200731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=200731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}