Canadian Forex Review: C$ closes lower

By Commodity News Service Canada

Winnipeg, January 17 – The Canadian dollar closed lower against its US
counterpart on Friday, as the US dollar once again moved towards resistance
seen at the key technical level of C$1.1000, market watchers said.
Losses seen in commodities, including copper and crude oil, added to the
bearish tone.
Traders are also looking ahead to next Wednesday, when the Bank of
Canada makes its next interest rate announcement.
The Canadian currency late in the afternoon was quoted at C$0.9111
(US$1.0975). This compares with Thursday’s late North American quote of
C$0.9153 (US$1.0925).
Canadian bonds were slightly stronger on Friday amid quiet trading,
participants said.
Canada’s two-year bond yield is at 1.023% Friday, from 1.042% late
Thursday, according to electronic trading platform CanDeal. The 10-year bond
yields 2.503%, from 2.526%.