By Commodity News Service Canada
Winnipeg, September 2 – The Canadian dollar fell lower Wednesday as investors positioned themselves before the release of crucial labor reports.
At 4:00 CDT Wednesday, the loonie was at US$0.7531 or US$1 = C$1.3278.
US and Canadian job data is due on Friday. Depending on the numbers that come in, some traders say the loonie could break out of its current range.
Canada’s disappointing GDP figures, which were released yesterday, also compounded the loonie’s activity.
Canada’s two-year bond yield was at 0.422% Wednesday, largely flat from late Tuesday, according to electronic trading platform CanDeal. The 10-year bond yield was at 1.455%, from 1.431%. Bond yields move inversely to prices.
