Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
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"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
outlooks@ (Adds strategist quote and details throughout; updates prices)
* Canadian dollar rises 0.1% against the greenback
* Canadian new home prices dip 0.1% in May
* Price of U.S. oil decreases 0.4%
* Canadian bond prices fall across a steeper yield curve
TORONTO, July 11 (Reuters) - The Canadian dollar firmed against its U.S. counterpart on Thursday, approaching last week's eight-month high, as investors focused on the less-dovish policy guidance coming from the Bank of Canada compared with that of the Federal Reserve.
At 4:16 p.m. (2016 GMT), the Canadian dollar was
trading 0.1% higher at 1.3062 to the greenback, or 76.56 U.S. cents. The currency, which last Thursday notched an eight-month high at 1.3038, traded in a range of 1.3042 to 1.3080.
The outlook for the U.S. dollar remained grim after
Federal Reserve Chair Jerome Powell's bleak comments on the U.S. economy, which bolstered expectations of an interest rate cut later this month. In contrast, the Bank of Canada made clear on Wednesday it had no intention of easing monetary policy even as it highlighted the risks that trade wars posed to the global economy. "If you look at the relative monetary policy, Canada versus the U.S., it still looks like divergence," said Erik Bregar, head of FX strategy at the Exchange Bank of Canada. Chances of an interest rate cut this year by the Bank of Canada were less than 35%, data from the overnight index swaps market showed. Over the same period, the market expects at least two rate cuts from the Fed. The price of oil, one of Canada's major exports, fell as OPEC forecast slower demand for its crude next year. U.S. crude
oil futures settled 0.4% lower at $60.20 a barrel.
New home prices in Canada declined 0.1% in May, after prices were flat for the previous three months, Statistics Canada said.
Canadian government bond prices were lower across a steeper yield curve in sympathy with U.S. Treasuries, after data showed U.S. underlying consumer prices increased by the most in nearly 1-1/2 years in June.
The two-year fell 3 Canadian cents to yield1.602% and the 10-year was down 35 Canadian cents to
(Reporting by Fergal Smith; Additional reporting by Levent Uslu; Editing by Peter Cooney)