By Commodity News Service Canada
Winnipeg – April 25/13 – CNS – The Canadian dollar was
trading at a firmer level versus the US currency in late North
American activity on Thursday. A willingness among global
investors to take on risk helped the Canadian dollar strengthen,
market watchers said.
The Canadian currency late in the afternoon was quoted at
C$1.0204 (98.00 US cents). This compares with Wednesday’s late
North American quote of C$1.0256 (97.50 US cents).
The upswing in the Canadian currency also came as global
Read Also
Canadian Dollar and Business Outlook: Loonie up, gold surges
Glacier FarmMedia | MarketsFarm – The Canadian dollar moved above the 73 United States cent mark on Monday morning. The loonie…
positive, analysts said.
Better-than-expected first quarter growth data out of the
UK, which narrowly avoided a recession, also helped to keep a
firm floor under the Canadian unit.
The loonie also benefited from US jobless claims for the
week ending April 20, which came in at 339,000, beating
expectations of 350,000 claims.
Canadian bonds ended lower along the yield curve on
Thursday in sympathy with their US counterparts as an improved
risk tone and additional supply took steam away from fixed-income
assets, market watchers said.
Canada’s two-year bond yield was at 0.950% Thursday, from
0.946% last Wednesday. The 10-year bond yielded 1.746%, from
1.722%. Bond yields move inversely to bond prices.
The bond market kicked off Thursday’s session in negative
territory after better-than-expected first quarter growth data
out of the UK showed that the country’s economy narrowly avoided
a recession.
END
