By Commodity News Service Canada
WINNIPEG, April 24 – The Canadian dollar closed fractionally firmer relative to the US dollar on Thursday, keeping within its recent narrow trading range.
The Canadian dollar closed at US$0.9068 or US$1=C$1.1028 on Thursday, which compares with Wednesday’s North American settlement of US$0.9064 or US$1=C$1.1032.
Support came from a statement from Export development Canada, noting that the export outlook for the country is positive due to renewed strength in the United States and emerging markets.
Spillover from the gains seen in gold and crude oil prices were also supportive.
However, a lack of risk sentiment, due to ongoing worries about the political problems between Ukraine and Russia, kept the dollar from moving much higher, analysts said.
Canadian bonds were mixed to lower on Thursday, reacting to positive economic data in the US and worries about the ongoing political turmoil in Ukraine, traders said.
The two-year bond yielded 1.071% late Thursday, from 1.065% late Wednesday. The 10-year bond yielded 2.430%, from 2.426%. Bond yields fall as their prices rise.
