By Commodity News Service Canada
WINNIPEG, July 29 – The Canadian dollar firmed against US counterpart on Monday, lifted by strong commodity prices, such as gold and copper, analysts said.
The Canadian currency was quoted at US$0.9747, or US$1=C$1.0260 at the close on Monday, which compares with Friday’s North American close of US$0.9734, or US$=C$1.0273.
There was no significant Canadian economic data to report on Monday. Traders were looking ahead to Wednesday, when Statistics Canada will release May’s gross domestic product figures.
US gross domestic product data will also be released on Wednesday, as will the US Federal Reserve’s monetary policy statement.
Canadian bonds closed lower on Monday, following along with the US Treasury market, participants said.
The two-year bond yielded 1.158% late Monday, from 1.148% late Friday. The 10-year bond yielded 2.478%, from 2.452%. Bond yields fall as their prices rise.
