By Commodity News Service Canada
WINNIPEG, Oct. 9 – The Canadian dollar eased against its US counterpart on Wednesday, as traders continued to shed risk amid the prolonged US government shutdown, now in its second week, analysts said.
The Canadian currency was quoted at US$0.9621 or US$1=C$1.0394 at the close on Wednesday, which compares with Tuesday’s North American close of US$0.9645 or US$=C$1.0368.
Spillover pressure from sharp losses seen in crude oil and gold, two of Canada’s biggest exports, further undermined the loonie.
There was no significant Canadian economic data released on Wednesday. Traders were looking ahead to Friday’s Canadian employment data release.
Canadian bonds were slightly lower amid quiet activity as traders are still waiting to see what will happen with the US government shutdown situation.
The two-year bond yielded 1.199% late Wednesday, from 1.188% late Tuesday. The 10-year bond yielded 2.570%, from 2.566%. Bond yields fall as their prices rise.
