TORONTO, Jan 15 (Reuters) – The Canadian dollar fell to a one-month low against its U.S. counterpart on Monday as oil prices dipped and a Bank of Canada survey highlighted continued weakness in the domestic economy.<\/p>\n
The loonie was trading 0.2% lower at 1.3435 to the greenback, or 74.43 U.S. cents after touching its weakest intraday level since Dec. 14 at 1.3448.<\/p>\n
Canadian firms say their order books declined as interest rates crimped consumer spending, and they see inflation easing despite increased concerns over wages for the next year, the central bank said in a quarterly survey.<\/p>\n
“The overriding message from the BOS (Business Outlook Survey) was that the economy remains soft, and price pressure will likely continue to ease, but there’s still work to be done on inflation expectations,” Benjamin Reitzes, Canadian rates and macro strategist at BMO Capital Markets, said in a note.<\/p>\n
The Canadian consumer price index report for December, due on Tuesday, is expected to show inflation accelerating to 3.4% from 3.1% in November.<\/p>\n
The price of oil, one of Canada’s major exports, fell as the Middle East conflict’s limited impact on crude output prompted profit taking after oil benchmarks gained 2% last week.<\/p>\n
U.S. crude oil futures were down 0.3% at $72.50 a barrel, while the U.S. dollar strengthened against a basket of major currencies in cautious trading, with U.S. financial markets closed for a public holiday.<\/p>\n
Canadian government bond yields were mixed across the curve, with the 10-year up less than one basis point at 3.227%. (Reporting by Fergal Smith in Toronto Editing by Matthew Lewis)<\/p>\n","protected":false},"excerpt":{"rendered":"
TORONTO, Jan 15 (Reuters) – The Canadian dollar fell to a one-month low against its U.S. counterpart on Monday as oil prices dipped and a Bank of Canada survey highlighted continued weakness in the domestic economy. The loonie was trading 0.2% lower at 1.3435 to…<\/p>\n","protected":false},"featured_media":28688,"menu_order":0,"template":"","acf":[],"yoast_head":"\n