Canadian Dollar Falls As Trump Approves Hong Kong Legislation
27 Noviembre 2019 - 8:56PM
RTTF2
The Canadian dollar declined against its most major counterparts
in the Asian session on Thursday, as most Asian shares fell amid
worries that tensions between the U.S. and China over Hong Kong may
dampen the prospects for an interim trade deal.
Overnight, U.S. President Donald Trump signed into law
congressional legislation backing pro-democracy protesters in Hong
Kong, despite strong objections by China.
China reiterated its retaliation threat and said the Hong Kong
Human Rights Democracy Act seriously interferes in the internal
affairs of China violating international laws and basic principles
of foreign relations.
We urge the U.S. to not continue going down the wrong path, or
China will take countermeasures, and the U.S. must bear all
consequences," the Chinese Foreign Ministry said in a
statement.
Oil extended losses after a report showed U.S. crude inventories
grew unexpectedly last week.
The loonie edged down to 82.29 against the yen and held steady
thereafter. At Wednesday's close, the pair was quoted at 82.45.
Data from the Ministry of Economy, Trade and Industry showed
that retail sales in Japan plunged a seasonally adjusted 14.4
percent on month in October.
That missed expectations for a decline of 10.4 percent following
the 7.2 percent increase in September.
The loonie slipped to a 2-day low of 1.3293 against the
greenback from Wednesday's closing value of 1.3281. The currency is
likely to find support around the 1.35 level.
The loonie that ended Wednesday's trading at 1.4608 against the
euro weakened to a 2-day low of 1.4633. If the currency falls
further, 1.49 is possibly seen as its next support level.
In contrast, the loonie held steady against the aussie, after
having climbed to a 9-day high of 0.8981 at 6:15 pm ET. The pair
had closed Wednesday's deals at 0.8999.
Data from the Australian Bureau of Statistics showed that
private capital expenditure in Australia fell a seasonally adjusted
0.2 percent on quarter in the third quarter of 2019 - worth
A$29.413 billion.
That missed expectations for a flat reading following the 0.6
percent drop in the three months prior.
Looking ahead, Eurozone economic sentiment index for November is
due out in the European session.
At 8:00 am ET, German preliminary inflation data for November
will be released.
U.S. stock markets are closed for Thanksgiving holiday.
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