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Market News
Canadian dollar posts fourth straight weekly gain as US data underwhelms - REUTERS
By Fergal Smith
Summary
- Loonie trades in a range of 1.4277 to 1.4333
- Posts weekly gain of 0.2%
- Canadian GDP rises 0.4% in January
- Bond yields ease across the curve
March 28 (Reuters) - The Canadian dollar edged lower against its U.S. counterpart on Friday but held on to a weekly gain as investors weighed disappointing U.S. economic data and awaited the next round of Washington's trade tariffs.
The loonie weakened 0.1% to 1.4315 per U.S. dollar, or 69.86 U.S. cents, after moving in a range of 1.4277 to 1.4333.
For the week, the loonie was up 0.2%, its fourth straight weekly gain, as investors bet the U.S. economy would be unable to escape damage from an expanding global trade war.
U.S. consumer spending rebounded less than expected in February while a measure of underlying prices increased.
