By Jennifer Kwan
TORONTO, March 17 (Reuters) - The Canadian dollar extended gains on Wednesday, supported by firm commodity prices and lingering euphoria from a renewed pledge by the U.S. Federal Reserve to keep interest rates low for an extended period.
The Canadian dollar built on the Fed-induced momentum to touch C$1.0108 to the U.S. dollar, or 98.93 U.S. cents, on Wednesday morning as world stocks climbed in response to the U.S. central bank's policy stance and assessment of the economic outlook.
'Risk is up after the (Federal Open Market Committee). It's being seen through higher equity valuations, better bid to commodities and, by extension, commodity currencies,' said Jack Spitz, managing director of foreign exchange at National Bank Financial.
'A low interest rate environment contributes to a better bid for risk assets,' he added.
At 7:40 a.m. (1140 GMT), the Canadian dollar was at C$1.0123 to the U.S. dollar, or 98.78 U.S. cents, up from Tuesday's close at C$1.0140 to the U.S. dollar, or 98.62 U.S. cents.
Also supporting the Canadian currency were higher oil and gold prices.
Canadian bond prices were flat across the curve on Wednesday. The two-year government bond ticked 1 Canadian cent higher to C$99.95 to yield 1.539 percent, while the 10-year bond was unchanged at C$102.40 to yield 3.443 percent.
(Reporting by Jennifer Kwan, Editing by Chizu Nomiyama) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: Canadian dollar and bonds report................... TSX market report........................................ Headlines from global forex markets .................. Bank of Canada stories................................... Bank of Canada weekly t-bill auction.................. Bank of Canada securities auctions.................... Bank of Canada interest rate story.................... Reuters monthly Canadian dollar poll.. Canadian interest rate poll.......................... Reuters G7 quarterly economy poll................... Weekly economic data poll............................. Reuters global stocks poll (Canada)... New Canadian debt issues............................. Top News: Canada .................................... Today in Canada..................................... Canadian debt and money news ................... FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Real-time Canadian economic RICS...................... Canadian dollar quote........................... Canadian bonds quote....... Canadian money market quote.................. New Canadian debt issues........................... Canada-Treasury spread rates....................... Canadian Debt and Forex speed guide........... Canadian Equities speed guide...................... S&P/TSX Composite index ............................. FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS: FTSE Eurotop 300 ..... European report ....... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Global markets report............................ Foreign exchange...................................... Non-deliverable forward currencies ................... Oil.................................................... US Treasuries......................................... International bonds................................... Gold....................................... or CRB index of commodity futures........................ All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ World central bank news Economic Forecasts... Official rates... Forex Diary....... Top events........ Diaries........... Diaries Index........ Press Digests..... Polls on G7 economies.. Keywords: MARKETS CANADA/DOLLAR BONDS (jennifer.kwan@thomsonreuters.com; +1 416 941 8178; Reuters Messaging: jennifer.kwan.reuters.net@reuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
TORONTO, March 17 (Reuters) - The Canadian dollar extended gains on Wednesday, supported by firm commodity prices and lingering euphoria from a renewed pledge by the U.S. Federal Reserve to keep interest rates low for an extended period.
The Canadian dollar built on the Fed-induced momentum to touch C$1.0108 to the U.S. dollar, or 98.93 U.S. cents, on Wednesday morning as world stocks climbed in response to the U.S. central bank's policy stance and assessment of the economic outlook.
'Risk is up after the (Federal Open Market Committee). It's being seen through higher equity valuations, better bid to commodities and, by extension, commodity currencies,' said Jack Spitz, managing director of foreign exchange at National Bank Financial.
'A low interest rate environment contributes to a better bid for risk assets,' he added.
At 7:40 a.m. (1140 GMT), the Canadian dollar was at C$1.0123 to the U.S. dollar, or 98.78 U.S. cents, up from Tuesday's close at C$1.0140 to the U.S. dollar, or 98.62 U.S. cents.
Also supporting the Canadian currency were higher oil and gold prices.
Canadian bond prices were flat across the curve on Wednesday. The two-year government bond ticked 1 Canadian cent higher to C$99.95 to yield 1.539 percent, while the 10-year bond was unchanged at C$102.40 to yield 3.443 percent.
(Reporting by Jennifer Kwan, Editing by Chizu Nomiyama) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: Canadian dollar and bonds report................... TSX market report........................................ Headlines from global forex markets .................. Bank of Canada stories................................... Bank of Canada weekly t-bill auction.................. Bank of Canada securities auctions.................... Bank of Canada interest rate story.................... Reuters monthly Canadian dollar poll.. Canadian interest rate poll.......................... Reuters G7 quarterly economy poll................... Weekly economic data poll............................. Reuters global stocks poll (Canada)... New Canadian debt issues............................. Top News: Canada .................................... Today in Canada..................................... Canadian debt and money news ................... FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Real-time Canadian economic RICS...................... Canadian dollar quote........................... Canadian bonds quote....... Canadian money market quote.................. New Canadian debt issues........................... Canada-Treasury spread rates....................... Canadian Debt and Forex speed guide........... Canadian Equities speed guide...................... S&P/TSX Composite index ............................. FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS: FTSE Eurotop 300 ..... European report ....... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Global markets report............................ Foreign exchange...................................... Non-deliverable forward currencies ................... Oil.................................................... US Treasuries......................................... International bonds................................... Gold....................................... or CRB index of commodity futures........................ All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ World central bank news Economic Forecasts... Official rates... Forex Diary....... Top events........ Diaries........... Diaries Index........ Press Digests..... Polls on G7 economies.. Keywords: MARKETS CANADA/DOLLAR BONDS (jennifer.kwan@thomsonreuters.com; +1 416 941 8178; Reuters Messaging: jennifer.kwan.reuters.net@reuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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