Canadian dollar trades sideways as investors await clues on rate outlook [Toronto Globe and Mail (Ontario, Canada)]
Toronto Dominion Bank (The) (TD)
Last toronto dominion bank (the) earnings: 2/27 06:30 am
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Source: Toronto Globe and Mail
The was little changed against the greenback on Thursday, extending this week’s sideways trading pattern as investors awaited economic data over the coming weeks that could shape expectations for the Bank of Canada interest rate outlook. At 3:48 p.m., the was trading nearly unchanged at 1.342 to the greenback, or 76.68 U.S. cents. The currency, which has moved in a narrow range since hitting a near two-week low last Thursday at 1.314, traded between 1.333 and 1.356. “We think over the next couple of weeks we’ll definitely be getting a better read on how (Canadian) Q4 GDP shaped up,” said Mazen Issa, senior FX strategist at TD Securities. “Currently our tracking for GDP is pretty abysmal ... tracking at about a .5 per cent increase.” Story continues below advertisement November data for manufacturing, wholesale trade and retail sales is due next week, while the Bank of Canada will make an interest rate decision and update its outlook for the economy. In October, the central bank proj
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