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Merkel Maps Out Path to Reopening Europe's Largest Economy – Bloomberg

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TSX rises 0.6% to 18,490.76

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* The Toronto Stock Exchange‘s TSX rises 0.60 percent to 18,490.76

* Leading the index were Mullen Group Ltd <MTL.TO​>, up 8.0%, Sprott Inc​, up 6.5%, and Ero Copper Corp​, higher by 5.4%.

* Lagging shares were Lightspeed POS Inc​​, down 7.4%, Ballard Power Systems Inc​, down 5.5%, and Hudbay Minerals Inc​, lower by 4.3%.

* On the TSX 138 issues rose and 79 fell as a 1.7-to-1 ratio favored advancers. There were 36 new highs and no new lows, with total volume of 198.4 million shares.

* The most heavily traded shares by volume were Suncor Energy Inc, Air Canada and Cenovus Energy Inc.

* The TSX’s energy group fell 0.89 points, or 0.7%, while the financials sector climbed 5.15 points, or 1.5%.

* West Texas Intermediate crude futures fell 2.13%, or $1.41, to $64.68 a barrel. Brent crude  fell 2.06%, or $1.43, to $67.93 [O/R]

* The TSX is up 6.1% for the year.

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Trudeau on International Women's Day Names Women-Only Task Force on Economy – Bloomberg

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Trudeau on International Women’s Day Names Women-Only Task Force on Economy  Bloomberg



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Canada Dollar dips as short-covering propels greenback broadly higher

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Canadian dollar

By Fergal Smith

TORONTO (Reuters) – The Canadian dollar edged lower against its U.S. counterpart on Monday but fared better than most other G10 currencies as the United States moved closer to passing fiscal stimulus and ahead of an interest rate decision by the Bank of Canada on Wednesday.

The loonie was trading 0.1% lower at 1.2666 to the greenback, or 78.95 U.S. cents.

“We have seen some modest defensiveness with respect to the loonie,” said Bipan Rai, North America head, FX strategy at CIBC Capital Markets. “It just feels like the market is closing up shorts in U.S. dollars.”

The safe-haven U.S. dollar notched a 3-1/2-month high against a basket of major currencies as elevated U.S. Treasury yields spooked investors.

Pressure on the loonie was less than on some other currencies because Canadian yields have been keeping pace with the recent move higher in U.S. yields and oil has climbed, Rai said.

Besides the greenback, the only other G10 currency to gain ground against the Canadian dollar on Monday was the Norwegian crown.

The U.S. Senate on Saturday passed the stimulus package, and President Joe Biden said he hoped for quick passage of the revised bill by the House of Representatives.

Canada sends about 75% of its exports to the United States, including oil.

Oil settled 1.6% lower at $65.05, giving back some recent gains, after Saudi Arabia said there were was no loss of property following attacks on its oil facilities.

Investors see rising chances that the Bank of Canada would hike interest rates next year as the economic outlook improves, but the central bank is likely to push back against those bets for now, pointing to still high unemployment, analysts say.

Canada‘s 10-year yield touched its highest since January last year at 1.545% before dipping to 1.521%, up 1.9 basis points on the day.

 

(Reporting by Fergal Smith; Editing by Marguerita Choy and Jonathan Oatis)

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