By Commodity News Service Canada
Winnipeg, Sept. 21 – The Canadian dollar was weaker on Monday, as softer-than-expected wholesale trade data weighed on the currency.
The Canadian currency late in the afternoon was quoted at US$0.7550 or US$1=C$1.3245. This compares with Friday’s North American close of US$0.7566, or US$=C$1.3217.
The value of Canada’s wholesale sales held steady in July, according to Statistics Canada, which was off average market expectations for a 1.4% rise.
However, gains in crude oil and a favourable response to a speech from Bank of Canada governor Stephen Poloz helped limit the losses in the Canadian dollar.
Canadian bonds moved lower on Monday, as the bond market took back some of last week’s gains.
