By Commodity News Service Canada
WINNIPEG, Jan. 8 – The Canadian dollar eased slightly against the US dollar on Thursday, with ongoing worries about crude oil’s recent tumble hurting Canada’s economy behind the softness, analysts said.
The Canadian dollar closed at US$0.8449 or US$1=C$1.1836 on Thursday, which compares with Wednesday’s North American settlement of US$0.8460 or US$1=C$1.1820.
Traders were moving to the sidelines ahead of Friday’s employment data from both Canada and the US, market watchers said.
Some support came from expectations that Canada added 10,000 new jobs in December, with a rebound in oil values also underpinning the loonie.
Canadian bonds closed weaker on Thursday, undermined by profit taking on large gains seen earlier in the week, and ahead of Friday’s North American jobs data, brokers said.
The two-year bond yielded 0.983% late Thursday, from 0.970% late Wednesday. The 10-year bond yielded 1.708%, from 1.657%. Bond yields fall as their prices rise.
