By Commodity News Service Canada
Winnipeg, April 24 – The Canadian dollar held within a narrow range relative to its US counterpart on Wednesday, as the currency continued to lack any fresh market moving news.
The Canadian currency late in the afternoon was quoted at US$0.9750, or US$1=C$1.0256. This compares with Tuesday’s North American close of US$0.9745, or US$=C$1.0262.
Concerns over an economic slowdown in the US did put some pressure on the Canadian dollar, as the two countries are major trading partners.
Expectations that the European Central Bank may take actions to stimulate the EU economy were somewhat supportive for the Canadian currency.
The US releases updated jobs data on Thursday, which should provide some direction for the foreign exchange markets.
Canadian bonds were stronger on Wednesday, taking some direction from the gains in US Treasurys.
