Fergal Smith
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Articles by Fergal Smith
Canadian dollar extends monthly gain as higher oil prices raise inflation risk
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. REUTERS/Mark Blinch/File Photo Purchase Licensing Rights, opens new tab TORONTO, Oct 30 (Reuters) - The Canadian dollar strengthened to a six-week high against its US counterpart on Friday as a jump in oil prices supported bets the Bank of Canada would tighten further, overshadowing disappointing GDP data.
Canadian dollar extends monthly gain as higher oil prices raise inflation risk
TORONTO, Oct 30 (Reuters) - The Canadian dollar strengthened to a six-week high against its US counterpart on Friday as a jump in oil prices supported bets the Bank of Canada would tighten further, overshadowing disappointing GDP data. The loonie was trading 0.2% higher at 1.3955 per US dollar, or 71.66 US cents, after touching its strongest intraday level since September 16 at 1.3943. For the month, the currency was on track to gain 2%, which would be its biggest monthly advance since April.
Loonie hits six-week high as Canada-US yield gap narrows
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Loonie hits six-week high as Canada-US yield gap narrows Original
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. REUTERS/Mark Blinch/File Photo Purchase Licensing Rights, opens new tab TORONTO, Oct 29 (Reuters) - The Canadian dollar strengthened to a six-week high against its US counterpart on Thursday after the start of a Bank of Canada tightening cycle helped narrow the gap between Canadian and US bond yields.
Canadian 2-year yield hits two-year high as BoC hikes interest rates Original
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. REUTERS/Mark Blinch/File Photo Purchase Licensing Rights, opens new tab TORONTO, Oct 28 (Reuters) - Canadian bond yields rose on Wednesday and the loonie edged higher against its US counterpart as the Bank of Canada raised interest rates for the first time in more than three years. Sign up here.
Canadian dollar extends pullback from 5-week high ahead of BoC rate decision Original
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. The Canadian dollar strengthened against the U.S. dollar on... Purchase Licensing Rights, opens new tab Read more TORONTO, Oct 27 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Tuesday as the price of oil fell and investors turned cautious ahead of an expected interest rate hike by the Bank of Canada.
TSX rises as investors welcome British Columbia election result
TORONTO, Oct 26 (Reuters) - Canada's main stock index rebounded on Monday, led by financial and resource shares, after the result of British Columbia's provincial election potentially raised prospects for oil and gas companies. The S&P/TSX Composite Index ended up 155.98 points, or 0.4%, at 35,944.16, after posting on Friday its lowest closing level since October 14.
Canadian dollar steadies after posting longest daily winning streak in four years Original
U.S. and Canada Dollar notes are seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration Purchase Licensing Rights, opens new tab TORONTO, Oct 26 (Reuters) - The Canadian dollar steadied against its US counterpart on Monday after seven straight days of gains, but the move was limited ahead of interest rate decisions this week by the Federal Reserve and the Bank of Canada.
TSX extends weekly decline as financials, consumer-related shares fall
TORONTO, Oct 23 (Reuters) - Canada's main stock index added to its weekly decline on Friday as losses for financials and consumer-related stocks offset gains for energy, with recent turbulence globally in AI-linked stocks keeping risk appetite in check. The S&P/TSX Composite Index ended down 185.27 points, or 0.5%, at 35,788.18, its lowest closing level since October 14. For the week, the index was down 1.1%.
Canadian dollar hits five-week high as data supports rate hike bets Original
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. REUTERS/Mark Blinch/File Photo Purchase Licensing Rights, opens new tab TORONTO, Oct 23 (Reuters) - The Canadian dollar strengthened to a five-week high against its US counterpart on Friday as oil prices rose and domestic retail sales data supported expectations the Bank of Canada would raise interest rates next week.
TSX falls 1% as tech and gold mining shares slide
CANADA-STOCKS/ ( TSX falls 1% as tech and gold mining shares slide (Updates at market close) By Utkarsh Hathi and Fergal Smith TORONTO, Oct 22 (Reuters) - Canada's main stock index pulled back from a four-week high on Thursday as a drop in gold and copper prices weighed on metal mining stocks, while technology fell on renewed concerns over AI spending. The S&P/TSX Composite Index ended down 351.54 points, or 1%, at 35,973.45.
Canadian dollar extends daily winning streak as interest rate spreads narrow Original
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. REUTERS/Mark Blinch/File Photo Purchase Licensing Rights, opens new tab TORONTO, Oct 22 (Reuters) - The Canadian dollar strengthened to a one-month high against its US counterpart on Thursday as oil prices rose and the gap narrowed between US and Canadian interest rates.
TSX hits four-week high as investors cheer government support measures
TORONTO, Oct 21 (Reuters) - Canada's main stock index rose to a four-week high on Wednesday, led by gains for financial shares, as investors welcomed government measures to aid sectors hit hard by US tariffs. The S&P/TSX Composite Index ended up 217.03 points, or 0.6%, at 36,324.99, its highest closing level since September 22.
Canadian dollar holds near four-week high as investors stick to rate hike bets Original
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. REUTERS/Mark Blinch/File Photo Purchase Licensing Rights, opens new tab TORONTO, Oct 21 (Reuters) - The Canadian dollar steadied near a four-week high against its US counterpart on Wednesday as investors stuck with bets the Bank of Canada would raise interest rates at a policy decision next week.
TSX rises as drop in oil prices helps lower interest rates
TORONTO, Oct 20 (Reuters) - Canada's main stock index rose on Tuesday, helped by gains for financial and telecommunication stocks, as oil pulled back from its highest level since April and investors looked ahead to a more seasonally favorable period for the market. The S&P/TSX Composite Index ended up 179.33 points, or 0.5%, at 36,107.96, stopping just short of Friday's closing level, which was the highest in over three weeks. o "You are entering one of the best seasonal periods of the year.
Canadian dollar hits four-week high as market cheers Alberta remain vote Original
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015.
TSX pulls back from three-week high as financials, metal miners fall
TORONTO, Oct 19 (Reuters) - Canada's main stock index fell on Monday, weighed by declines for financial and metal mining shares, as investors worried that a potential Bank of Canada interest rate hike could slow the domestic economy. The S&P/TSX Composite Index ended down 247.92 points, or 0.7%, at 35,928.63, after posting its highest closing level in more than three weeks on Friday. o Canada's annual inflation rate rose less than expected to 3.1% in September.
Canadian dollar notches nearly four-week high on BoC rate hike bets Original
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. REUTERS/Mark Blinch Purchase Licensing Rights, opens new tab TORONTO, Oct 19 (Reuters) - The Canadian dollar held on to much of its gains against the US dollar on Monday as hawkish comments by Bank of Canada Governor Tiff Macklem overshadowed domestic inflation data, while investors awaited the outcome of a referendum in Alberta.
TSX posts biggest gain in five weeks as rate hike bets recede
TORONTO, Oct 9 (Reuters) - Canada's main stock index rose on Friday by the most in five weeks, led by gains for Aritzia and metal mining shares, as weaker-than-expected domestic jobs data reduced expectations for Bank of Canada interest rate hikes. The Toronto Stock Exchange's S&P/TSX Composite Index ended up 519.24 points, or 1.48%, at 35,664.62, marking its highest closing level in two weeks and its biggest advance since September 3.
Canadian dollar hits 18-month low as jobs data clips rate hike bets
TORONTO, Oct 9 (Reuters) - The Canadian dollar weakened to an 18-month low against its US counterpart on Friday as domestic data showed a surprise drop in employment, reducing expectations for a Bank of Canada interest rate hike this month. The loonie was trading 0.4% lower at 1.4275 per US dollar, or 70.05 US cents, after touching its weakest intraday level since April 2025 at 1.4298. For the week, the currency was down 0.2%, putting it on track for its fifth straight weekly decline.
Canadian dollar tries to bounce as yield spreads compress Original
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. REUTERS/Mark Blinch/File Photo Purchase Licensing Rights, opens new tab TORONTO, Oct 8 (Reuters) - The Canadian dollar edged higher against its US counterpart on Thursday as the gap between US and Canadian yields narrowed from the historically wide levels seen earlier in the week and as investors awaited Canada's monthly employment report.
Canadian dollar tries to bounce as yield spreads compress
TORONTO, Oct 8 (Reuters) - The Canadian dollar edged higher against its US counterpart on Thursday as the gap between US and Canadian yields narrowed from the historically wide levels seen earlier in the week and as investors awaited Canada's monthly employment report. The loonie was trading 0.1% higher at 1.4245 per US dollar, or 70.20 US cents, after touching on an 18-month low of 1.4293 on Monday.
Canadian dollar weakens as risk-off sentiment drives markets Original
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. REUTERS/Mark Blinch Purchase Licensing Rights, opens new tab TORONTO, Oct 7 (Reuters) - The Canadian dollar weakened against its US counterpart on Wednesday as a downturn in risk appetite helped drive broad-based gains for the greenback and investors weighed minutes from the Federal Reserve's latest meeting.
TSX posts steepest decline in four months as bond yields climb
TORONTO, Oct 7 (Reuters) - Canada's benchmark stock fell the most in four months on Wednesday as investors weighed elevated bond yields and trade uncertainty, with financial and metal mining shares leading declines. The Toronto Stock Exchange's S&P/TSX Composite Index ended down 607.65 points, or 1.7%, at 35,041.86, its steepest decline since June 5 and the lowest closing level in two and a half months.
TSX climbs to 11-day high as bond yields ease
TORONTO, Oct 6 (Reuters) - Canada's main stock index rose to an 11-day high on Tuesday, led by utilities and metal mining shares, as the recent sell-off in the global bond market eased and after a deal which will create one of Canada's top power providers. The Toronto Stock Exchange's S&P/TSX Composite Index ended up 130.96 points, or 0.4%, at 35,649.51, its highest closing level since September 25.
Canadian dollar rallies as trade surplus widens more than expected Original
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. REUTERS/Mark Blinch/File Photo Purchase Licensing Rights, opens new tab TORONTO, Oct 6 (Reuters) - The Canadian dollar strengthened against its US counterpart on Tuesday as data showed Canada's trade surplus widening more than expected and after the greenback gave back some of its recent broad-based gains.
Toronto home sales post steepest decline since February on economic uncertainty
By Fergal Smith TORONTO, Oct 6 (Reuters) – Greater Toronto Area home sales fell by the most in seven months in September as economic uncertainty held back buyers, Toronto Regional Real Estate Board data showed on Tuesday. • Seasonally adjusted sales decreased 5.2% last month from August to 5,174 units, marking the second straight month of decline and the steepest drop since February.
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