C$ recovers from 6-week low as global markets trade steadier
* Canadian dollar trades near flat against the greenback
* Loonie hits weakest intraday level since Aug. 12 at 1.3345
* Price of U.S. oil increases 0.7%
* Canadian bond yields were little changed across the curve
TORONTO, Sept 22 (Reuters) - The Canadian dollar was little changed against its U.S. counterpart on Tuesday as some calm returned to oil and global equity markets following steep declines the day before, with the currency recovering from an earlier near six-week low.
Stock markets clawed back some ground, a day after rising second waves of the coronavirus epidemic led to a sharp sell-off.
The price of oil, one of Canada's major exports, rebounded
as analysts took the view that renewed lockdown restrictions
would have only a limited impact on fuel demand. U.S. crude
The Canadian dollar
Canadian Prime Minister Justin Trudeau is scheduled to unveil on Wednesday what he says is a far-reaching plan to help Canada recover from the pandemic. Ottawa has already announced more than C$300 billion of economic support measures, or about 14% of the country's GDP.
Canadian government bond yields were little changed across
the yield curve on Tuesday, with the 10-year
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Latest Markets Videos
Explore US Markets
ExploreMost Popular
- Fed could cut rates in 2023, 2024 once inflation under control -Bullard
- US STOCKS-Wall St plunges as Snap's bleak forecast sparks selloff
- All Fed officials backed May rate hike, 'most' saw half-point rises in June and July, minutes show
- US STOCKS-Wall Street surges on upbeat retail guidance, easing Fed fears