Canadian Forex Review: C$ strengthens ahead of the New Year

By Commodity News Service Canada

Winnipeg, December 31 – The Canadian dollar was slightly stronger
against its US counterpart late in Tuesday’s session, amid quiet trading
ahead of the New Year’s Day holiday on Wednesday, industry watchers said.
Gains seen in commodities, including gold and copper, were bullish for
the loonie.
No major Canadian economic data is scheduled to be released during the
week.
The Canadian currency late in the afternoon was quoted at C$0.9408
(US$1.0629). This compares with Monday’s late North American quote of
C$0.9398 (US$1.0640).
Canadian bonds were lower at the end of a shortened session, ahead of
the New Year’s Day holiday on Wednesday, participants said.
Canada’s two-year bond yield is at 1.136% Tuesday, from 1.131% Monday,
according to electronic trading platform CanDeal. The 10-year bond yielded
2.769%, from 2.739%.