By Commodity News Service Canada
WINNIPEG, June 15 – The Canadian dollar softened relative to the US dollar on Monday, as crude oil prices moved lower, analysts said.
The Canadian dollar closed at US$0.8119 or US$1=C$1.2317 on Monday, which compares with Friday’s North American settlement of US$0.8128 or US$1=C$1.2311.
Disappointing Canadian manufacturing data was also bearish. Statistics Canada said manufacturing sales fell 2.1 per cent to C$49.8 billion in April, while pre-report guesses called for only a 0.5 per cent decline.
Though, US manufacturing and industrial production data released Monday was also disappointing, which was supportive for the Canadian currency.
Canadian bonds were higher on Monday, as traders continued to flock to safe-haven assets amid worries about economic problems in Greece, brokers said.
The two-year bond yielded 0.626% Monday, from 0.647% late Friday. The 10-year bond yield was at 1.768%, from 1.804% Bond yields fall as their prices rise.
