(Adds strategist quotes and details throughout, updates prices)
* Canadian dollar falls 0.3% against the greenback
* Loonie notches a six-week high at 1.3850
* Price of U.S. oil increases 25%
* Canada's GDP was flat in February
By Fergal Smith
TORONTO, April 30 (Reuters) - The Canadian dollar weakened against the greenback on Thursday as Wall Street lost ground and domestic data showed no economic growth in the month before coronavirus-related lockdowns began, but the currency still posted its first monthly gain this year.
At 4:27 p.m. (2027 GMT), the Canadian dollar
Technical resistance near 1.3800 and a loss of positive momentum for risk appetite weighed on the loonie, said Amo Sahota, director at Klarity FX in San Francisco.
"There is a slight exhaustion in optimism in the market place, particularly as U.S. stocks drop," Sahota said.
U.S. stocks fell as grim economic data and mixed earnings prompted investors to take some profits at the close of Wall Street's best month in decades.
Canada runs a current account deficit and is a major exporter of commodities, including oil, so the domestic economy tends to be dependent on the global flow of trade and capital.
The Canadian economy stalled in February, Statistics Canada said, as parliament's budget watchdog warned that a dramatic contraction was possible this year, with a spike in deficit and debt levels.
U.S. crude oil futures
Canada's coronavirus curve is flat but some worrying trends are emerging, particularly outbreaks in vulnerable indigenous communities, the country's top medical officer said.
Canadian government bond yields eased across a flatter
curve. The 10-year yield
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.