Canadian forex review: C$ closes unchanged

By Commodity News Service Canada

Winnipeg, Nov. 1 – The Canadian dollar moved closed unchanged against the US dollar on Friday, consolidating following Thursday’s more than half a cent gain, analysts said.

The Canadian currency was quoted at US$0.9590 or US$1=C$1.0427 at the close on Friday, which compares with Thursday’s North American settlement of US$0.9590 or US$=C$1.0427.

Positive US manufacturing data was bearish for the loonie, as was spillover pressure from the losses seen in crude oil and gold prices.

On the other side, strong Chinese economic data was bullish, as it made traders more willing to take on risk, including the Canadian dollar.

Canadian bonds were lower on Friday, as they followed along with the declines seen in the US Treasury market, participants said.

The two-year bond yielded 1.128% late Friday, from 1.102% late Thursday. The 10-year bond yielded 2.510%, from 2.422%. Bond yields fall as their prices rise.