C$ trades near 3-week low as short positions strike better balance
Canadian dollar falls 0.1% against the greenback
Trades in a range of 1.3566 to 1.3604
Price of U.S. oil settles 2.5% higher
Canadian bond yields mixed
By Fergal Smith
TORONTO, Sept 12 (Reuters) -The Canadian dollar weakened against its U.S. counterpart on Thursday as support from recent short-covering faded and investors bet the Bank of Canada would continue to cut interest rates in an effort to boost the domestic economy.
The loonie CAD= was trading 0.1% lower at 1.3590 per U.S. dollar, or 73.58 U.S. cents, after moving in a range of 1.3566 to 1.3604. On Wednesday, the currency touched its weakest intraday level since Aug. 21 at 1.3622.
"You are seeing the (Canadian) dollar start to soften a little bit and we wouldn't be shocked if that is the trend you continue to see here - some Canadian dollar underperformance against the U.S. dollar for the next number of months as the Bank of Canada continues to ease," said Benjamin Reitzes, Canadian rates and macro strategist at BMO Capital Markets.
Speculators have cut their bearish bets on the Canadian dollar to the lowest level since April, the latest data from the U.S. Commodity Futures Trading Commission showed on Friday. 1090741NNET
A reduced short position could leave speculators less vulnerable to rallies in the currency.
"The reality is, positioning is a little bit more square and the Canadian backdrop is materially weaker than the U.S," Reitzes said.
Growth in Canada's economy is likely to fall well short of the BoC's forecast in the third quarter, economists said this week.
Analysts say that recent declines in the price of oil, one of Canada's major exports, have also weighed on the loonie.
Still, U.S. crude futures CLc1 rallied on Thursday, settling 2.5% higher at $68.97 a barrel, as producers assessed the damage to output in the U.S. Gulf of Mexico after Hurricane Francine tore through offshore oil producing areas.
Canadian bond yields were mixed, with the 2-year CA2YT=RR down less than a basis point at 3.018%.
Reporting by Fergal Smith; Editing by Paul Simao
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
