By Commodity News Service Canada
Winnipeg – April 11/13 – CNS – The Canadian dollar was
trading at a stronger level versus the US currency in late North
American activity on Thursday. The Canadian unit managed to
establish new two-month highs during the session as investor
appetite for risk assets increased significantly, market watchers
said.
The Canadian currency late in the afternoon was quoted at
C$1.0101 (98.95 US cents). This compares with Wednesday’s late
North American quote of C$1.0144 (98.85 US cents).
There were few developments Thursday that led to major moves
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from investor sentiment that saw gains come at the expense of
positive flows toward the euro and the Australian dollar.
With no Canadian data scheduled to be released Friday, the
currency will continue to trade on the back of external
developments. US retail sales figures for March are the key data
release for Friday, which could help to influence currency
markets during early trading.
Canadian bonds ended higher along the yield curve on
Thursday as investors turned back to safe-haven assets after a
risk rally faded, market watchers said.
Canada’s two-year bond yield was at 0.983% Thursday, from
0.995% Wednesday. The 10-year bond yielded 1.786%, from 1.808%.
Bond yields move inversely to bond prices.
With a lack of main drivers available to influence bond
markets, investors became cautious ahead of another round of
corporate earnings and moved back into fixed-income assets,
brokers said.
US jobless claims fell for the first time in four weeks by
42,000 to a seasonally adjusted 346,000 in the week ended April
6, ahead of expectations of 360,000 new applications.
In Canada, home prices rose by 0.2% in February, slightly
ahead of expectations of a 0.1% gain. On a year-over-year basis,
the rise in Canadian home prices slowed slightly to 2.1% from
2.2%.
END
