Canadian dollar hits six-day low on coronavirus damage, factory data miss

This translation has been automatically generated and has not been verified for accuracy.The Canadian dollar weakened to a near one-week low against its U.S. counterpart on Tuesday as economic damage from the coronavirus weighed on investor sentiment and domestic data showed a surprise decline in manufacturing sales.

World stocks markets were knocked off record highs as two of the world’s mega companies, and Europe’s largest economy, Germany, reported damage from the coronavirus outbreak.Canada is a major producer of commodities, including oil, so its economy could be hurt by a slowdown in the global economy. At 9:29 a.m. , the Canadian dollar was trading 0.2% lower at 1.3268 to the greenback, or 75.37 U.S. cents. The currency touched its weakest intraday level since last Wednesday at 1.3278.

Canadian government bond yields were lower across the yield curve in sympathy with U.S. Treasuries on Tuesday. The 10-year yield fell 3.2 basis points to 1.332%.

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