US Markets

CANADA FX DEBT-Canadian dollar firms as investors eye U.S. stimulus talks

Credit: REUTERS/Mark Blinch

The Canadian dollar edged higher against its U.S. counterpart on Tuesday as investors weighed prospects of U.S. economic stimulus and domestic data showed home prices gaining across-the-board in September.

* Canadian dollar rises 0.1% against the greenback

* Data shows house prices climbing 1.1% in September

* Price of U.S. oil decreases 0.6%

* Canada's 10-year yield nearly unchanged at 0.598%

TORONTO, Oct 20 (Reuters) - The Canadian dollar edged higher against its U.S. counterpart on Tuesday as investors weighed prospects of U.S. economic stimulus and domestic data showed home prices gaining across-the-board in September.

The Canadian dollar was trading 0.1% higher at 1.3184 to the greenback, or 75.85 U.S. cents, having traded in a range of 1.3167 to 1.3203. The currency has gained 1% since the start of the month along with an uptick on Wall Street.

U.S. stock index futures rose on expectations that Washington lawmakers would be able to settle their differences for an economic stimulus bill to pass before the Nov. 3 presidential election.

Canada sends about 75% of its exports to the United States, including oil. U.S. crude oil futures fell 0.6% to $40.60 a barrel, pressured by the threat to demand from rising Libyan output and a global resurgence in coronavirus cases.

Canada reported a new COVID-19 milestone on Monday with total infections rising above 200,000 since the pandemic began in early March and as the country's second wave was expected to be worse than the first.

Still, domestic data showed house prices notching the second-strongest gain for the month of September on record, with the Teranet-National Bank Composite House Price Index climbing 1.1% from August.

The U.S. dollar lost ground against a basket of major currencies as the euro climbed to a one-week high.

Canadian government bond yields were mixed across the curve, with the 10-year nearly unchanged at 0.598%. (Reporting by Fergal Smith; Editing by Steve Orlofsky) ((fergal.smith@thomsonreuters.com; +1 647 480 7446;)) Keywords: CANADA FOREX/

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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