Canadian dollar gains 0.2% against the greenback
Price of U.S. oil settles 1.3% higher
Bond yields rise across the curve
TORONTO, Aug 8 (Reuters) – The Canadian dollar strengthened against its U.S. counterpart on Thursday as financial markets globally continued to heal and ahead of domestic jobs data that could guide expectations for additional Bank of Canada interest rate cuts.
The loonie was trading 0.2% higher at 1.3732 to the U.S. dollar, or 72.82 U.S. cents, extending its recovery from a near two-year low of 1.3946 on Monday when equity markets tumbled.
The currency has benefited from increased stability in financial markets in recent days, said Amo Sahota, director at Klarity FX in San Francisco.
“The reset button has been hit and CAD has appreciated accordingly,” Sahota said.
Wall Street’s main indexes rose as economic data suggested the fear that the labor market was unraveling was overblown, while the price of oil,…
