CANADA FX DEBT – Canadian Dollar Plunges as Global COVID-19 Restrictions Tighten


* The Canadian dollar falls 0.2% against the greenback * The price of US oil falls 1.3% * Canadian wholesale trade rises 0.9% in September * Canadian government bond yields fall on a flatter curve TORONTO, Nov 17 (Reuters) – The Canadian dollar weakened against the greenback and many other G10 currencies on Tuesday as tightening restrictions to contain the coronavirus pandemic weighed on the price of oil and before the comments of the Governor of the Bank of Canada, Tiff Macklem. The price of oil, one of Canada’s main exports, fell as Sweden moved to restrict the size of public gatherings and a British medical adviser suggested tightening the three-tier system of restrictions when the full lockdown in England will end. U.S. crude prices fell 1.3% to $40.8 a barrel, while the Canadian dollar traded down 0.2% to 1.3099 for the greenback, or 76.34 US cents , after trading in a range of 1.3063 to 1.3116. The loonie lagged all other G10 currencies except for another commodity-linked currency, the New Zealand dollar. Macklem will speak at a panel on sustainable finance and the transition to a low-carbon economy. The Bank of Canada is due to release its comments at 2:00 p.m. (7:00 p.m. GMT). Canadian wholesale trade rose 0.9% in September from August, beating analysts’ expectations, driven by higher sales in the food, beverage and tobacco subsector, Statistics data shows. Canada. Separate data, from the Canada Mortgage and Housing Corporation, showed housing starts rose 3% in October from the previous month. The Canadian Inflation Report for October is due Wednesday. Yields on Canadian government bonds fell on a flatter curve in sympathy with US Treasuries. The 10-year fell 3.1 basis points to 0.707%. (Reporting by Fergal Smith Editing by Alistair Bell)


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