Canadian dollar steadies near five-week high as risk appetite ebbs on vaccine worries

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Canadian dollar steadies near five-week high as risk appetite ebbs on vaccine worries
Canadian dollar steadies near five-week high as risk appetite ebbs on vaccine worries

The Canadian dollar was little changed against its U.S. counterpart on Tuesday after the pause of a high profile COVID-19 vaccine trial offset robust Chinese trade data, with the currency holding near an earlier five-week high.

Data showing that Chinese exports and imports climbed in September boosted the price of oil, one of Canada’s major exports.

U.S. crude oil futures CLc1 rose 1.9% to $40.17 a barrel but global equity markets .WORLD were pressured by news that Johnson & Johnson JNJ.N has paused its COVID-19 vaccine candidate clinical trials because of an unexplained illness in a study participant.

The Canadian dollar CAD= was trading nearly unchanged at 1.3105 to the greenback, or 76.31 U.S. cents. The currency touched its strongest intraday level since Sept. 8 at 1.3095.

U.S. crude oil futures CLc1 rose 1.9% to $40.17 a barrel but global equity markets .WORLD were pressured by news that Johnson & Johnson JNJ.N has paused its COVID-19 vaccine candidate clinical trials because of an unexplained illness in a study participant.

The Canadian dollar CAD= was trading nearly unchanged at 1.3105 to the greenback, or 76.31 U.S. cents. The currency touched its strongest intraday level since Sept. 8 at 1.3095.

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