Canadian Forex Review: C$ up over a quarter of a cent

By Commodity News Service Canada

Winnipeg, October 17 – The Canadian dollar closed higher against its US
counterpart on Thursday, strengthened by Wednesday night’s news that a deal
was agreed upon to end the partial shutdown of the US government and to
extend the debt ceiling, analysts said.
According to industry watchers, further support came from ideas that the
16-day government shutdown would prevent the US Federal Reserve from slowing
its monetary stimulus in the near-term.
However, losses seen in commodities, including crude oil and copper,
limited gains.
The Canadian currency late in the afternoon was quoted at C$0.9715
(US$1.0293). This compares with Wednesday’s late North American quote of
C$0.9677 (US$1.0334).
Canadian bonds were higher on Thursday, underpinned by the re-opening of
the US government and the extension to the debt deadline, brokers said.
Canada’s two-year bond yield is at 1.177% Thursday, from 1.212%
Wednesday, according to electronic trading platform CanDeal. The 10-year bond
yielded 2.566%, from 2.619%.