By Commodity News Service Canada
WINNIPEG, August 18 – The Canadian dollar ended slightly higher against the US dollar on Tuesday, taking some direction from strength in crude oil values, analysts said.
The Canadian dollar closed at US$0.7659 or US$1=C$1.3056 on Tuesday, which compares with Monday’s North American settlement of US$0.7642 or US$1=C$1.3085.
Sentiment that the Canadian dollar has dropped far enough for the time being was also supportive.
Though, a lack of fresh market moving news kept the Canadian currency within a narrow trading range on Tuesday, brokers added.
Ongoing worries about economic problems in China and positive US housing data were said to be limiting the upside as well.
Canadian bonds were moving lower on Tuesday, reacting to a positive report from the US housing sector, according to market watchers.
The two-year bond yielded 0.415% on Tuesday, from 0.408% on Monday. The ten-year bond yield was at 1.395%, from 1.373%. Bond yields rise as their prices fall.
