By Commodity News Service Canada
WINNIPEG, April 17 – The Canadian dollar was little changed against the US dollar on Thursday, as investors were being cautious ahead of the long weekend. Markets in Canada and the US will be closed on April 18 for Good Friday.
The Canadian dollar closed at US$0.9080 or US$1=C$1.1013 on Thursday, which compares with Wednesday’s North American settlement of US$0.9076 or US$1=C$1.1018.
Some support for the loonie came from strong Canadian inflation data. According to Statistics Canada, the Consumer Price Index rose 1.5 per cent in the 12 months to March, up from the 1.1 per cent gain seen in February.
Strength in crude oil prices was also bullish, though the weakness seen in gold values put downward pressure on the Canadian dollar, brokers said.
Canadian bonds ended lower, reacting to better than expected economic data from both Canada and the US, traders said. The market closed early ahead of the long weekend.
The two-year bond yielded 1.076% late Thursday, from 1.050% late Thursday. The 10-year bond yielded 2.452%, from
2.394%. Bond yields fall as their prices rise.
