Thursday July 12, 2007 - 21:25:41 GMT
Share This Story
Reuters - www.reuters.com
Forex News - M&A deal, data boost Canadian dollar, bonds down
M&A deal, data boost Canadian dollar, bonds down
Thu Jul 12, 2007 4:09PM EDT
(Corrects currency conversion in fifth paragraph)
TORONTO, July 12 (Reuters) - The Canadian dollar rose
against the greenback on Thursday, lifted by a $38.1 billion
takeover offer for Canada's Alcan Inc. from Anglo-Australian
miner Rio Tinto Ltd/Plc. as well as strong domestic economic
Domestic bond prices, which had earlier shrugged off the
better-than-expected May merchandise trade and new house price
data, gave up their gains as Toronto equities soared on the
Alcan (AL.TO: Quote, Profile, Research) news.
Markets are now focused on the Bank of Canada's monetary
policy update at 10:30 a.m. (1430 GMT) later on Thursday and a
press conference by Governor David Dodge at 11:15 a.m.
The central bank hiked interest rates by 25 basis points on
Tuesday, putting the overnight rate at 4.50 percent.
At 10:05 a.m., the Canadian dollar was at C$1.0474 to the
U.S. dollar, or 95.47 U.S. cents, up from C$1.0538, or 94.89
U.S. cents, at Wednesday's session close.
"I think the Alcan announcement puts a solid bid under
Canada, and I think after
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."