By Commodity News Service Canada
Winnipeg – April 8/13 – CNS – The Canadian dollar was
trading at a slightly easier level versus the US currency in late
North American activity on Monday. Early weakness in the Canadian
currency was associated with a disappointing corporate Canada
survey, market watchers said.
According to the Bank of Canada, almost half of the Canadian
firms who responded tot he survey said their sales growth was
worse last year than the year before. Weaker than anticipated
jobs creation data from the US also helped to put the Canadian
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The Canadian currency late in the afternoon was quoted at
C$1.0168 (98.34 US cents). This compares with Friday’s late North
American quote of C$1.0164 (98.39 US cents).
The downswing in the Canadian dollar was offset by the
ability of the North American equity sector to turn to the
upside. Firmness in global crude oil values also tempered the
weakness.
Canadian housing starts data for March and building permits
data for February will be released Tuesday. While the data are
unlikely to move the currency, they will be closely watched for
signs on whether the national housing sector will continue to
ease toward a so-called “soft landing.”
Canadian bonds ended lower along the yield curve on Monday
assets, market watchers said.
Canada’s two-year bond yield was at 0.990% Monday, from
0.978% last Friday. The 10-year bond yielded 1.753%, from 1.747%.
Bond yields move inversely to bond prices.
There were no major domestic developments to help drive
fixed-income markets on Monday, leaving Canadian bonds to follow
closely with their US Treasury counterparts.
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