© Reuters. Greenback gains some ground vs. loonie in early trade
Investing.com – The U.S. dollar edged higher against its Canadian counterpart on Monday, but gains were expected to remain limited as investors turned to this week’s highly-anticipated U.S. inflation data.
was up 0.12% at 1.2594 by 09:30 a.m. ET (13:30 GMT).
Market participants were eyeing this week’s U.S. inflation data for further clues on how fast the Federal Reserve will raise interest rates this year.
The greenback had strengthened broadly after the U.S. Congress early Friday morning, ending a brief government shutdown.
The agreement is set to boost federal spending by almost $300 billion and suspend the debt ceiling for a year.
Government activities were temporarily shut down when a midnight deadline to pass the U.S. budget deal was missed on Thursday due to a prolonged speech by Senator Rand Paul, who said the bill would “loot the Treasury.”
Meanwhile, the commodity-related Canadian dollar benefited from a rise in , after last week’s steep losses.
The loonie was fractionally lower against the euro, with up 0.08% at 1.5425.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Latest posts by investing.com (see all)
- Kiwis Take Flight From New Zealand as Australian Jobs Beckon - October 19, 2018
- Forex – Yuan Little Changed After Disappointing China GDP Data - October 19, 2018
- Treasury's Currency Report Seen as China's Final Warning as Yuan Falls - October 19, 2018