By Commodity News Service Canada
WINNIPEG, June 23 – The Canadian dollar was down slightly against the US dollar Tuesday, reacting to movements in the euro and US dollar as the market lacked any fresh domestic economic news, analysts said.
The Canadian dollar closed at US$0.8108 or US$1=C$1.2333 on Tuesday, which compares with Monday’s North American settlement of US$0.8113 or US$1=C$1.2326.
Traders were being cautious as Greece works towards a bailout deal this week. Though, reports of new proposals yesterday provided some optimism.
Though, strength in crude oil values was supportive, as was disappointing US data. New orders for durable goods dropped 1.8 per cent last month, below expectations of a 1.0 per cent decline, according to reports.
Canadian bonds moved lower on Tuesday, following the US Treasury market amid a lack of fresh news, according to brokers.
The two-year bond yielded 0.630% Tuesday, from 0.624% Monday. The 10-year bond yield was at 1.830%, from 1.807%. Bond yields rise as their prices fall.
