By Commodity News Service Canada
WINNIPEG, July 19 – The Canadian dollar firmed against its US counterpart on Friday amid positive Canadian economic data, analysts said.
Statistics Canada reported that the Consumer Price Index rose 1.2% in the 12 months to June, up from a 0.7% increase in May and in line with expectations.
The Canadian currency was quoted at US$0.9646, or US$1=C$1.0367 at the close on Friday, which compares with Thursday’s North American close of US$0.9638, or US$=C$1.0376.
Some of the strength in the value of the Canadian currency was tied to the advances seen in commodities, including crude oil, gold and copper.
Canadian bonds closed higher following the release of Canadian inflation data that came in line with expectations, brokers said.
The two-year bond yielded 1.087% late Friday, from 1.096% late Thursday. The 10-year bond yielded 2.362%, from 2.400%. Bond yields fall as their prices rise.
