Canadian dollar retreats from 4-month high after rail shutdown
Canadian dollar weakens 0.1% against the greenback
Pulls back from a 4-month high at 1.3572
Canada's top two railroads lock out workers
Bond yields rise across the curve
By Fergal Smith
TORONTO, Aug 22 (Reuters) -The Canadian dollar edged lower against its U.S. counterpart on Thursday, pulling back from a four-month high, as the greenback notched broad-based gains and a work stoppage at Canada's top two railroads threatened to disrupt the domestic economy.
The loonie CAD= was trading 0.1% lower at 1.3605 to the U.S. dollar, or 73.50 U.S. cents, after touching its strongest intraday level since April 10 at 1.3572.
Canadian National Railway Co CNR.TO and Canadian Pacific Kansas City Ltd CP.TO locked out more than 9,000 unionized workers, triggering an unprecedented rail stoppage that could cause billions of dollars worth of economic damage.
"The rail shutdown now underway should instill a growing sense of alarm in those holding bullish (Canadian dollar) positions," Karl Schamotta, chief market strategist at Corpay, said in a note.
"With the federal government thus far refusing to intercede in negotiations between Canadian National Railway, Canadian Pacific Kansas City, and the Teamsters union, the prospect of a prolonged lockout is raising the threat of serious economic damage."
The Bank of Canada has already shifted its focus to boosting the economy, analysts say, cutting its benchmark interest rate twice since June to 4.50%. Investors expect more than 200 basis points of additional easing by the end of 2025. 0#BOCWATCH
The U.S. dollar .DXY rebounded from an eight-month low against a basket of major currencies ahead of remarks, due on Friday, by Federal Reserve Chair Jerome Powell at a central banking conference in Jackson Hole, Wyoming.
The price of oil, one of Canada's major exports, was supported by a drop in U.S. fuel inventories. U.S. crude futures CLc1 rose 1.6% to $73.08 a barrel, recouping some recent declines.
Canadian government bond yields moved higher across the curve, tracking moves in U.S. Treasuries. The 10-year CA10YT=RR was up 5.9 basis points at 3.076%.
Reporting by Fergal Smith; Editing by David Holmes
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。
