By Commodity News Service Canada
WINNIPEG, March 27 – The Canadian dollar closed firmer relative to the US dollar on Thursday, as technical buying and improving risk appetite provided support, analysts said.
The Canadian dollar closed at US$0.9064 or US$1=C$1.1032 on Thursday, which compares with Wednesday’s North American settlement of US$0.9022 or US$1=C$1.1084.
Positive economic growth news and spillover support from the gains seen in commodities also helped to lift the Canadian currency.
But, better than expected US GDP data was bearish. The US economy grew 2.6 per cent at an annualized rate from October to December.
Canadian bonds were mixed, following the same action seen in the US Treasury market, according to industry watchers.
The two-year bond yielded 1.063% late Thursday, from 1.065% late Wednesday. The 10-year bond yielded 2.431%, from
2.443%. Bond yields fall as their prices rise.
