By Commodity News Service Canada
Winnipeg, September 23 – The Canadian dollar ended lower relative to its US counterpart Wednesday, following losses in commodities.
At 4:00 CDT Wednesday, the loonie was at US$0.7503 or US$1 = C$1.3320.
A new report on Canadian retail sales came in below expectations which dragged down the financial sector.
Oil prices closed below US$45 a barrel which limited the losses.
On the commodity markets the November crude contract in New York dropped US$1.66 to US$44.70 a barrel. The December gold contract jumped US$4.60 to US$1,129.40 an ounce.
Canadian bonds closed slightly lower.
Canada’s two-year bond yield was at 0.519% Wednesday, up from 0.499% late Tuesday, according to electronic trading platform CanDeal. The 10-year bond yield was at 1.484%, up from 1.482%. Bond yields move inversely to prices.
