Canadian forex review: C$ firms ahead of key jobs data

By Commodity News Service Canada

WINNIPEG, August 6 – The Canadian dollar ended stronger relative to the US dollar on Thursday, as traders squared positions ahead of key jobs data from both Canada and the US on Friday, analysts said.

The Canadian dollar closed at US$0.7629 or US$1=C$1.3108 on Thursday, which compares with Wednesday’s North American settlement of US$0.7583 or US$1=C$1.3188.

Sentiment that the Canadian currency is looking oversold was also supportive.

Though, weakness in crude oil values and ongoing worries about economic problems slowing growth in Canada limited the upside.

Canadian bonds were mostly higher on Thursday, finding support from weakness in oil prices, according to market watchers.

The two-year bond yielded 0.438% on Thursday, from 0.440% on Wednesday. The ten-year bond yield was at 1.449%, from 1.471%. Bond yields fall as their prices rise.