By Commodity News Service Canada
WINNIPEG, March 10 – The Canadian dollar closed lower against its US counterpart on Monday, following weak commodity prices due to disappointing Chinese trade data, analysts said.
The Canadian dollar closed at US$0.9008 US$1=C$1.1101 on Monday, which compares with Friday’s North American settlement of US$0.9017 or US$=C$1.1090.
Friday’s Statistics Canada employment data, which showed the economy lost 7,000 jobs in February, also continued to weigh on the value of the Canadian dollar.
Canadian bonds moved higher in reaction to the disappointing Chinese trade data, as well as Friday’s lackluster Canadian employment figures, brokers said.
The two-year bond yielded 1.042% late Monday, from
1.053% late Friday. The 10-year bond yielded 2.498%, from
2.524%. Bond yields fall as their prices rise.
