Canadian Forex Review: C$ moves lower

By Commodity News Service Canada

Winnipeg, December 24 – The Canadian dollar closed lower against its US
counterpart on Tuesday, as trading was quiet ahead of the Christmas and
Boxing Day holidays, industry watchers said.
The loonie was weakened by stronger-than-expected US economic data,
participants said. According to the US Department of Commerce, orders for US
durable goods were up 3.5% in November, beating economists’ expectations of a
2% increase.
However, gains seen in commodities, including gold, crude oil and
copper, limited any further gains.
The Canadian currency late in the afternoon was quoted at C$0.9417
(US$1.0619). This compares with Monday’s late North American quote of
C$0.9424 (US$1.0611).
Canadian bonds declined again on Tuesday, as investors went away from
fixed-income assets, brokers said.
Canada’s two-year bond yield is at 1.128% Tuesday, from 1.109% Monday,
according to electronic trading platform CanDeal. The 10-year bond yielded
2.685%, from 2.674%.