Canadian Forex/Bond Review: C$ strengthens off 11-year lows

By Commodity News Service Canada

Winnipeg, Sept. 30 – The Canadian dollar was stronger on Wednesday, seeing a modest recovery off of the 11-year lows hit on Tuesday.
The Canadian currency late in the afternoon was quoted at US$0.7493 or US$1=C$1.3345. This compares with Tuesday’s North American close of US$0.7453, or US$=C$1.3418
In Canadian domestic data, real gross domestic product grew 0.3 per cent in July, after rising 0.4 per cent in June. The growth in June and July followed five consecutive monthly declines from January to May, Statistics Canada said in a report on Wednesday.
Crude oil was higher on Wednesday, which helped underpin the energy-linked Canadian currency.
Canadian bonds were down on Wednesday, as the better-than-expected GDP data weighed on the fixed-income markets.