By Commodity News Service Canada
WINNIPEG, August 19 – The Canadian dollar closed little changed compared to its US counterpart on Monday amid a lack of fresh news, analysts said.
The Canadian currency was quoted at US$0.9669, or US$1=C$1.0342 at the close on Monday, which compares with Friday’s North American close of US$0.9672, or US$=C$1.0339.
Some downward pressure came from spillover selling from commodity markets, including crude oil, gold and copper, brokers noted.
Much of the activity in the market was linked to positioning ahead of Canadian wholesale trade data on Tuesday and the release of the Federal Open market Committee meeting minutes on Wednesday.
Canadian bonds moved lower, undermined by worries that the US Federal Reserve will ease out of stimulus sooner, rather than later, traders said.
The two-year bond yielded 1.226% late Monday, from 1.219% late Friday. The 10-year bond yielded 2.752%, from 2.717%. Bond yields fall as their prices rise.
