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Canadian Forex/Bond Review: C$ Falls With Crude Oil

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By Commodity News Service Canada

Winnipeg, September 11 – The Canadian dollar ended lower relative to its US counterpart Friday, as falling oil prices led the path downward.

At 4:00 CDT Friday, the loonie was at US$0.7538 or US$1 = C$1.3266.

Large inventories of US crude weighed on oil prices as traders made moves in the face of a growing oversupply.

Goldman Sachs speculated the price of oil could fall to US$38 next month.

Canadian bonds were slightly higher.

Canada’s two-year bond yield was at 0.461% Friday, down from 0.465% late Thursday, according to electronic trading platform CanDeal. The 10-year bond yield was at 1.473%, down from 1.494%. Bond yields move inversely to prices.